NEW YORK (TheStreet) --AT&T Inc. (T) may be facing an impediment to its $48.5 billion bid to purchase DirecTV (DTV) as over 90 of the company's former business partners are asking the FCC to keep the transaction from moving forward, Reuters reports.
The former business partners have accused the company of engaging in anti-competitive behavior and violating its fiduciary responsibilities.
The partners, working under the Minority Cellular Partners Coalition, said in a filing with the FCC that AT&T suppressed the competition and "knowingly harmed" its business partners, Reuters added.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Shares of AT&T are up 0.14% to $35.07in early afternoon trading on Thursday.
Separately, TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: