N.Y. AG Looking Into AT&T, T-Mobile Deal (T, VZ, S, CLWR)

The Wall Street Journal is reporting that New York Attorney General Eric Schneiderman is going to conduct a "thorough review" of the AT&T T merger with T-Mobile, and how it would impact competition of wireless in the state. "Cell phones are no longer a luxury for a few among us, but a basic necessity. The last thing New Yorkers need during these difficult economic times is to see cell phone prices rise," Mr. Schneiderman said in a statement given today. Yesterday, Sprint S came out and expressed its opposition against the deal, and other wireless companies like Clearwire Corp. CLWR and LightSquared have also voiced concerns. Verizon VZ has not said anything about the competitive nature of the deal, but it did say it would not go after Sprint in a counter move to the deal.