Report: Verizon CEO says AT&T/ T-Mobile merger 'had to occur'

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The Department of Justice recently filed a lawsuit to block the merger, arguing it would decrease competition in the wireless market and lead to higher prices for consumers. Both sides are expected in federal court on Wednesday afternoon to discuss a trial date and the potential for a settlement.

To that end AT&T has reportedly discussed divesting spectrum or subscribers to competitors in hopes of gaining DOJ and Federal Communications Commission approval of the deal. The FCC is conducting an independent review to determine if the transaction is in the public interest.