EchoStar-Hughes deal probably will be ‘blocked,’ Lehman Bros. sai...
EchoStar-Hughes deal probably will be “blocked,” Lehman Bros. said in report. Lehman said it was pessimistic about deal’s chances because of: (1) EchoStar-Hughes’ lack of positive momentum with regulators or politicians. (2) Apparent use of narrow definition of market…
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scope by Dept. of Justice (DoJ) Antitrust Chief Charles James. Approval “likely hinges on countervailing efficiency claims,” Lehman said. (3) Speculation that DoJ is researching how to defend itself against EchoStar lawsuit. Despite that, DoJ process appears to be nearing close, Lehman said. Though final decision still could take additional 6-9 months, preliminary ruling is expected this month, report said. FCC and DoJ probably will issue decision around same time, but DoJ probably will act first, report said. Date for completion of deal is Jan. 21.