A doomed deal? AT&T withdraws T-Mobile bid at the FCC

[DainBramaged]

AT&T has withdrawn a key piece of its bid for T-Mobile. Though the move is said to be temporary, the massive merger is in serious trouble.

The Federal Communications Commission (FCC) has suggested for weeks that it had big problems with AT&T's $39 billion buyout of T-Mobile USA. On November 22, the FCC made its displeasure even clearer, forwarding the entire merger to an administrative law judge for review and demanding that AT&T prove the deal would be in the public interest.

Instead of doing this, AT&T has decided to take its ball and go home. Yesterday, the company withdrew its FCC application.

AT&T and T-Mobile owner Deutsche Telekom insisted in a statement (PDF) that the withdrawal would be temporary and that, "as soon as practical, AT&T Inc. and Deutsche Telekom AG intend to seek the necessary FCC approval."

http://arstechnica.com/tech-policy/news/2011/11/a-doomed-deal-att-withdraws-t-mobile-bid-at-the-fcc.ars

[HopeHoops]

1. WOO HOO!!!!

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