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Pros: 6 Ways to Trade as Telecom Scrambles
31 Aug 2011 EDT - CNBC.com
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On Wednesday Wall Street was absolutely buzzing after the Department of Justice filed a lawsuit to block AT&T’s acquisition of rival T-Mobile.

“AT&T’s elimination of T-Mobile as an independent, low-priced rival would remove a significant competitive force from the market,” the U.S. said in its filing.

Although the government’s objection had been a topic of discussion, investors weren’t necessarily expecting action—and as a result they went scrambling.

And, as with any sudden development in the market, money pros look for opportunity to profit. Here where the Fast Money traders see opportunity:

Although it may seen obvious that AT&T will be hurt, OptionMonster Jon Najarian thinks rival Verizon loses too—because consolidation in telecom would have generated pricing power.

And on the plus side, Najarian thinks wireless infrastructure firms such as American Tower , Crown Castle and SBA Communications win. “Having 4 customers is always better than 3,” he says with a smile. And if you’re looking for another winner, Najarian suggests Clearwire .

Trader Steve Grasso thinks the winner is Sprint . However, before establishing a long position he suggests looking at the chart.

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