Tuesday, December 20, 2011

Future of the Web 12/20/2011 (p.m.)

  • Tags: AT&T, T-Mobile, antitrust, mergers, spectrum, wireless networking

    • AT&T said on Monday afternoon that it had withdrawn its $39 billion takeover bid for T-Mobile USA, acknowledging that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider.

      The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome resistance from both the Justice Department and the Federal Communications Commission.

    • Under the terms of the deal, AT&T will pay Deutsche Telekom $4 billion in cash and wireless spectrum as a break-up fee, and the two companies will begin a seven-year roaming agreement that will expand T-Mobile’s national coverage.

Posted from Diigo. The rest of Future of the Web group favorite links are here.

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