AT&T abandons plan to acquire T-Mobile
Updated: 2011-12-20 09:39
(Xinhua)
|
|||||||||||
WASHINGTON - AT&T, the second largest wireless carrier in the United States, announced Monday that it has decided to drop its 39-billion-US-dollar acquisition of T-Mobile USA due to the US government's objections.
The company said it would have to take a 4-billion-dollar charge for ending the offer, adding that the failure of the deal does not change the shortage of airwaves.
"The mobile internet is a dynamic industry that can be a critical driver in restoring American economic growth and job creation, but only if companies are allowed to react quickly to customer needs and market forces," AT&T said.
Since the release of the merger on March 20, the acquisition has met with increasing opposition from rival mobile carriers, consumers and organizations.
The company's decision came months after the US Justice Department sued to block the deal in August, saying the merger of these two companies would result in tens of millions of consumers facing higher prices, fewer choices and lower quality products for their mobile wireless services.
Hot Topics
HIV/AIDS, Egypt protest, Thanksgiving, climate change, global economic recovery, home prices, high-speed railways, school bus safety, Libya situation, Weekly photos
Editor's Picks
China launches satellite for Nigeria |
Trees dressed up for winter chill |
US concerned about violence in Kazakhstan |
Russia to launch spacecraft to space station |
Kobe Bryant, wife file for divorce |
'Invincible' Barca crush Santos to win Club World Cup |