AT&T's Stephenson expects higher prices from blocked deal

AT&T CEO Randall Stephenson asserted Wednesday that the government's decision to block his company's takeover of T-Mobile USA would lead to higher consumer costs because the coming wireless spectrum crunch will force more carriers to drop out of the market. "The more competitors you have, the less efficient the allocation of spectrum will be. It's got to change. I don't think the market's going to accommodate the number of competitors there are in the landscape," Stephenson said at the Milken Institute Global Conference.

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