AT&T throws in the towel on T-Mobile merger
AT&T has thrown in the towel on its controversial bid to buy T-Mobile USA from Deutsche Telecom (DT).
Since it was announced in March, the £39bn acquisition drew fierce criticism from US consumer groups, not to mention stiff resistance from the US Justice Department and the Federal Communications Commission (FCC).
The termination of the merger incurs a hefty payout from AT&T, $3bn to DT in Q4 this year. In addition, AT&T will...