Talks between AT&T, Time Warner and US antitrust officials on potential terms attached to the US$85 billion mega deal, which began late July, have reached an advanced stage, with the operator’s lawyers discussing merger conditions with the Department of Justice (DOJ), The Wall Street Journal (WSJ) reported.
The progress comes despite the fact US President Donald Trump said during his election campaign he would not approve the deal “because it’s too much concentration of power in the hands of too few”. Trump has also been very critical of reporting by CNN, a Time Warner unit.
As the WSJ noted, presidents don’t give the green light to mergers directly, but have some control over decisions, partly through their appointments to key government departments.
Meetings with the DOJ’s Antitrust Division commenced despite Trump’s nomination for head of the unit, Makan Delrahim, awaiting Senate clearance of his appointment.
Full Content: Wall Street Journal
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