Financial PerformanceThere are concerns about FCF durability given the company's aggressive device promo strategy, declining DTV distributions, and the declining Business wireline segment.
Market EnvironmentThe political sensitivity, especially in an election year, given the current environment where even deals with little competitive implications seem to be facing hurdles/delays.
Regulatory RisksThe biggest concern among regulators has always been the potential lowering of competition in under-served/rural markets from a merged entity.