Future of the Web 12/20/2011 (p.m.)

• AT&T Ends $39 Billion Bid for T-Mobile - NYTimes.com

  Tags: AT&T, T-Mobile, antitrust, mergers, spectrum, wireless networking

  • AT&T said on Monday afternoon that it had withdrawn its $39 billion takeover bid for T-Mobile USA, acknowledging that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider.

    The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome resistance from both the Justice Department and the Federal Communications Commission.

  • Under the terms of the deal, AT&T will pay Deutsche Telekom $4 billion in cash and wireless spectrum as a break-up fee, and the two companies will begin a seven-year roaming agreement that will expand T-Mobile’s national coverage.

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