AT&T chief Randall Stephenson predicts more mergers, changes in consumer smartphone plans

AT&T Chief Executive Randall Stephenson said that the wireless industry is likely to experience more consolidation, with firms buying up each other’s spectrum assets to deal with skyrocketing demand by smartphone users. He said data use will increase 75 percent every year for the next five years. Indeed, consumers in the next two years may be able to buy data-only plans as they use voice calls and text messaging less often. But he still feels burned after regulators rebuffed the company’s last attempt at a major merger. Stephenson said it would be “difficult” for AT&T to attempt another blockbuster acquisition as it did with its failed $39 billion bid for T-Mobile USA last year. But he said smaller mergers by all wireless companies are inevitable.