AT&T CEO says timeline for T-Mobile USA acquisition intact

AT&T Chairman and CEO Randall Stephenson said he couldn't remember any wireless deal over the last five years where regulators didn't require "some form of divestiture" to deal with a market-concentration issue. "I anticipate we'll have some of that here, but I don't have any idea what that will look like," Stephenson said, reiterating prior remarks on the subject.

AT&T's acquisition of T-Mobile has drawn both vocal support and opposition from different quarters, but Stephenson said none of the opposition has been surprising, and that deal timing is on track. "The timeline we still think it's going to be a year, roughly, to get the transaction," meaning one year from the March announcement. Asked about potential staff cuts once AT&T absorbs T-Mobile, Stephenson said there would be a number of "overlap" functions between the two companies, such as finance and marketing. "We have very elegant ways of dealing with this," he said.