David Crow

Donald Trump’s transition team has reassured AT&T that its acquisition of Time Warner will be scrutinised without prejudice despite the President-elect vowing to block the deal because it concentrated too much “power in the hands of too few.”

America’s largest telecommunications group by market value has been encouraged by Trump’s appointments to his transition team of two former competition officials with a hands-off record on antitrust enforcement, people close to the company said. President-elect Trump picked as his antitrust advisers Joshua Wright, a former federal trade commissioner with traditional Republican views on competition policy, and David Higbee, who worked in the business-friendly administration of George W Bush. After talking with the president-elect’s team, AT&T executives are confident that their deal has a good chance of passing regulatory scrutiny.

The four largest US wireless carriers are signing up new mobile phone customers at their slowest rate in more than 15 years as consumers put off switching networks and upgrading their smartphones.

Verizon, AT&T, T-Mobile US and Sprint recruited 7.1 million of the most lucrative “postpaid” mobile phone customers in the second quarter. Analysts are divided on the reason for the phenomenon, with some blaming pent-up demand for the Apple iPhone 7 and a paucity of new smartphone features. Others argue that efforts by the networks to stop customers leaving have started to bear fruit, resulting in a smaller pool of switchers for their rivals to pick off.