AT&T Ends Bid to Acquire T-Mobile USA
Last time we heard about AT&T and T-Mobile was with the occasion the two were considering a joint-venture as plan B, just in case something with the merger goes wrong. AT&T has now announced that it ended the bid to acquire T-Mobile USA.
“AT&T will continue to be aggressive in leading the mobile Internet revolution,” said AT&T chairman and CEO, Randall Stephenson. The initial plan was to pay $39 billion for T-Mobile’s assets but later on the Department of Justice, Federal Communications Commission, Sprint and others were laying down road bumps along the way.
“To reflect the break-up considerations due Deutsche Telekom, AT&T will recognize a pretax accounting charge of $4 billion in the 4th quarter of 2011. Additionally, AT&T will enter a mutually beneficial roaming agreement with Deutsche Telekom.”
Did you predict another outcome for the story? Would you as a subscriber have preferred the merger went through?