AT&T DEAL HOPES OVER
20 Dec, 2011
The publicly-troubled $39 billion acquisition of T-Mobile USA by AT&T Inc. has been officially dropped.
Finally succumbing to pressure from antitrust regulators, AT&T withdrew its offer after nine months of attempting to get the deal, which would have been the biggest of 2011, completed.
As a result, AT&T will now pay $3 billion to Deutsche Telekom AG, the owner of T-Mobile, as well as handing over a portion of its wireless spectrum as compensation for not completing the deal.
The two companies have now agreed to a seven-year roaming agreement and will look for ways in which they can strengthen their cellular networks.