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Submitted: December 7, 2011 - 9:53pm
Originally published: December 7, 2011
Last updated: December 22, 2011 - 6:17am
Originally published: December 7, 2011
Last updated: December 22, 2011 - 6:17am
Source:
Reuters
Author:
Nicola Leske
Location:
AT&T, 208 South Akard St, Dallas, TX, 75202, United States
AT&T plans to forge ahead with its deal to buy T-Mobile despite fierce regulatory opposition, and it has the financial resources to close the acquisition quickly, said AT&T Chief Financial Officer John Stephens.
AT&T plans to use the $10 billion cash it had accumulated on its balance sheet to prepare for the closing of the T-Mobile deal, Stephens said. In addition, the company has a $20 billion bridge facility and an $8 billion backup in place. "So we clearly have an ability to close the deal very quickly and have those resources," Stephens said. "That is the plan." Stephens would not say how the company planned to address antitrust concerns. He said any talks with the Department of Justice would not be made public.
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