AT&T has announced that they are officially giving up their $39 billion bid for T-Mobile, taking a $4 billion pre-tax charge. While the Department of Justice and the Federal Communications Commission opposed the merger on anti-trust reasons, AT&T said that their expanded network would benefit an industry increasingly choked by limited remaining spectrum.
“The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage,” said AT&T. “In the absence of such steps, customers will be harmed and needed investment will be stifled.”
Source: LA Times
