By Tyler Durden
As it turns out, The DOJ isn’t ready to let a federal judge’s decision to kill its challenge to the AT&T-Time Warner merger go unchallenged.
As a reminder, Judge Leon advised the government not to seek a stay of the ruling. Furthermore, Leon declared that seeking a stay would be a “manifest injustice.”
A month after the judge’s ruling was handed down – and after the judge effectively warned the federal government not to appeal – the DOJ has done just that, reviving the federal government’s fight to block the $85 billion ‘vertical integration’ deal.
BREAKING: Justice Department to appeal AT&T and Time Warner merger approval – court filing pic.twitter.com/arTpmjDNdi
— Reuters Business (@ReutersBiz) July 12, 2018
The news sent shares of AT&T lower just under 2% in the after-market:
Investors will now be looking out for more information regarding what aspect of the judge’s ruling the DOJ will choose to challenge.
Source:: Zero Hedge