AT&T's T-Mobile Buyout Denied
By: Stephanie Sobic
Updated: November 25, 2011
The merger between AT&T's and T-Moblie was rejected by the FCC and it looks like AT&T's is waving the white flag of defeat.
The Telecom giant set aside $4billion this quarter meant as a "break-up" fee if the merger deal collapsed and they had to pay T-Mobiles parent company.
AT&T also withdrew it's FCC approval application, instead of trying to convince the Justice Department the move wouldn't hurt competitors.
The Telecom giant set aside $4billion this quarter meant as a "break-up" fee if the merger deal collapsed and they had to pay T-Mobiles parent company.
AT&T also withdrew it's FCC approval application, instead of trying to convince the Justice Department the move wouldn't hurt competitors.
