Apparently the DOJ has filed a lawsuit to stop the merger. Anyone particularly disagree with the decision?
The Federal Communications Commission, which oversees the wireless industry, is in the midst of its own review of the proposed merger.
Following the DOJ's announcement, FCC Chairman Julius Genachowski said that the agency also believes the merger raises "serious concerns about the impact ... on competition."
Shares of AT&T (T, Fortune 500) tumbled more than 4%.
Wayne Watts, AT&T's general counsel, said in a statement that the company was "surprised and disappointed by today's action." He went on to say that the company remained "confident that this merger is in the best interest of consumers and our country, and the facts will prevail in court."