BO administration interferes: AT&T drops bid for T-Mobile, takes $4B penalty?
But because the deal would have landed AT&T; a total of more than 120 million customers, federal regulators fought the merger — the first major corporate deal to be struck down during the Obama administration.
AT&T;, which has poured millions into its lobbying and legal efforts to win the merger, slammed the government’s findings.
The wireless industry “is one of the most fiercely competitive industries in the world.” the company said in a statement. “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.”
Considering the loss of the merger and the new agreements recently struck by Verizon Wireless and cable firms, analysts question the future of AT&T; and T-Mobile.
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