It is rather amazing that two huge US companies looking to cut an $85bn merger are looking like underdogs. But as AT&T and Time Warner go head to head with the US government over the legality of their proposed tie-up, that is precisely what they appear to be.
Makan Delrahim, the Department of Justice’s antitrust head, plans to argue that telecoms powerhouse AT&T should be prevented from buying media company Time Warner because the two companies together will have monopoly powers that would result in higher cable prices for American consumers.
Read more at Financial Times