AT&T Drops Its T-Mobile Merger Bid In $4b Fail [telecom]

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Faced with the prospect of a long war with U.S regulators it seemed destined to lose, AT&T announced on Monday it would give up on its $39-billion attempt to purchase T-Mobile, even though the decision will cost the nation's number-two carrier at least $4 billion to walk away from the deal.

The proposed merger would have brought together the second- and fourth-largest telecommunications carriers in the United States, ultimately surpassing Verizon Wireless to be the largest telecom in the country. As recently as 11 days ago AT&T said it would not back down (though Chief Financial Officer John Stephens did seem to betray a bit of uncertainty). Instead, AT&T is out $4 billion with nothing to show for a proposed merger that drew instant fire from consumer groups and spectrum geeks.

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Bill Horne
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