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.

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