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AT&T plans fall apart, throws in the towel on T-Mobile deal

Source: ReadWriteWeb
December 19, 2011
The nightmare is over. Or, hopes and dreams have been crushed. Really, it depends on what side of the argument you fell on but, as of now, it is moot: AT&T and T-Mobile have dropped their $39 billion merger bid and will remain two separate, unaffiliated companies.

The competition will rejoice. Sprint, in particular, comes off as a big winner and CEO Dan Hesse will be vindicated for his crusade against the merger all year. Verizon, which took a "don't look at us, we are just watching the circus" approach, probably does not benefit from its failure. AT&T had set aside $4 billion in breakup fees that it now needs to pay Deutsche Telecom, the owners of T-Mobile. So, the biggest loser here is AT&T. The company would also like consumers to believe they are the losers as well.

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