AT&T Cancels T-Mobile USA Aquisition

Two weeks ago AT&T still said they were not backing down from the T-Mobile USA deal. Now AT&T has announced that they are ending the bid to acquire T-Mobile USA. This decision costs AT&T $4 billion. Telekom was smart enough to negotiate this outrageous deal failure fee.

 

“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."

“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,” Stephenson said.

It is not clear what the failed deal means for the near future. What is T-Mobile USA doing now? They still do not have the iPhone.

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