Advocacy group warns of job losses with AT&T deal

"Since 2006, the industry has contracted significantly as AT&T merged with Cingular and Verizon merged with AllTel, along with numerous smaller mergers," Bergmayer wrote. "There is every reason to suppose that this merger would follow a similar pattern and allow the merged company to increase its 'efficiency' by cutting jobs."

AT&T argues that the merger will create new jobs and improve economic growth.

"[Public Knowledge] also conveniently ignores the significant investment that will be necessary to expand our LTE network to reach over 97% of all Americans. That investment will create jobs, and will have job-creating ripple effects throughout the economy, particularly in rural areas," wrote Joan Marsh, AT&T's vice president of federal regulatory affairs, in a blog post on the company's website on Tuesday.

According to AT&T, the transaction will create as many as 96,000 jobs.