AT&Thas decided to formally end its attempt to acquire T-Mobile USA, the company announced Monday.
Amidst strong opposition from the Federal Communications Commission and the Department of Justice, the United State's largest wireless service provider decided to drop its nine-month $39 billion bid to take over Deutsche Telekom's American subsidiary. In its statement, AT&T announced its disapproval with the FFC:
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Now that the deal is off the table, AT&T will need to pay T-Mobile USA's parent company, Deutsche Telekom, a $4 billion break-up fee. The fee will be paid in cash ($3 billion) and $1 billion worth of spectrum.
[via All Things D]
