AT&T Pays 4 Billion Break Up Fee, Admits Defeat

This is some sad news, T-Mobile and AT&T merger has fallen through. AT&T has today announced that it has ended the bid to add network capactity through a T-Mobile USA purchase.

“AT&T will continue to be aggressive in leading the mobile Internet revolution,” said Randall Stephenson, AT&T chairman and CEO.  “Over the past four years we have invested more in our networks than any other U.S. company. As a result, today we deliver best-in-class mobile broadband speeds – connecting smartphones, tablets and emerging devices at a record pace – and we are well under way with our nationwide 4G LTE deployment.

“To meet the needs of our customers, we will continue to invest,” Stephenson said. “However, adding capacity to meet these needs will require policymakers to do two things. First, in the near term, they should allow the free markets to work so that additional spectrum is available to meet the immediate needs of the U.S. wireless industry, including expeditiously approving our acquisition of unused Qualcomm spectrum currently pending before the FCC.  Second, policymakers should enact legislation to meet our nation’s longer-term spectrum needs.

Although the deal fell through between AT&T and T-Mobile, AT&T has entered a mutually beneficial roaming agreement between the companies. The roaming agreement will mutually benefit both companies customers. This deal was supposed to be big for AT&T, we will have to wait and see what else At&T has up their sleeves.

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