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DealBook: AT&T Ends $39 Billion Bid for T-Mobile

AT&T acknowledged that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider. The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome resistance from both the Justice Department and the Federal Communications Commission. It added that American wireless customers “will be harmed and needed investment will be stifled” by the regulators’ decisions.

Senh: What does Barack Obama have to do with this. Sure, it's his administration, but it's the FCC. I never thought this would happen when the merger was announced. I guess big companies can gobble up smaller companies, but not competitors of the same size.

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AT&T to offer bigger asset sale to save T-Mobile deal: report

AT&T Inc is considering an offer to divest a significantly larger portion of assets than it had initially expected, in order to salvage its $39 billion deal to buy T-Mobile USA, Bloomberg reported citing a person familiar with the plan.

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