AT&T drops $39 billion bid to buy T-Mobile USA

[ via Reuters ] 19 Dec

AT&T has dropped its controversial $39 billion bid for Deutsche Telekom's wireless U.S. unit, bowing to regulatory opposition over the deal that would have made it the largest cellphone operator in the country.

AT&T's plan to buy T-Mobile USA, first announced in March, met with fierce opposition from the U.S. Department of Justice and the Federal Communications Commission and industry skepticism from the start.

AT&T will have to look elsewhere for the wireless airwaves it has said it needs to support the high demand for mobile data services and to compete with larger rival Verizon Wireless, which has agreed to buy spectrum from cable operators.

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Posted in: Air Attack, Business, T-Mobile, Technology