AT&T cancels plans to acquire T-Mobile USA

AT&T on Monday announced that it has ended its bid to acquire T-Mobile USA from Deutsche Telecom. “The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry,” AT&T said in a press release. “It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled.” AT&T’s bid to acquire T-Mobile USA for $39 billion was met

Source: http://www.bgr.com/2011/12/19/att-cancels-plans-to-acquire-t-mobile-usa/

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