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AT&T (T) Stock Declines as FCC Opens Investigation

NEW YORK (TheStreet) -- AT&T (T - Get Report) shares are falling 0.81% to $33.56 on Monday as the Federal Communications Commission said it was looking into the telecommunications service's anti-competitive pricing and conditions, the Wall Street Journal reports.

Other companies being investigated are Verizon Communications (VZ), Frontier Communications (FTC), and CenturyLink (CTL).

Specifically, the agency is looking into whether the companies engaged in unreasonable practices in setting pricing terms and conditions for special access.

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AT&T denies the allegations.

"The terms the commission is reviewing are commonplace in most commercial contracts," AT&T VP Frank Simone stated, according to the Journal.

Based in Dallas, AT&T provides telecommunications services in the U.S. and internationally. The company operates through two segments: Wireless and Wireline.

Separately, TheStreet Ratings team rates AT&T INC as a...