AT&T Drops Bid For T-Mobile

Start your day with TPM.
Sign up for the Morning Memo newsletter

AT&T has officially dropped its bid to buy Deutsche Telekom’s T-Mobile USA unit. AT&T acknowledged that the Obama administration’s opposition to the merger was unlikely to be overcome.

From the statement:

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. 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.

Latest Livewire
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: