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20 Dec 2011
AT&T has formally withdrawn its $39bn offer to buy T-Mobile USA, claiming in a statement that the company had been held back by the Federal Trade Commission (FTC) in its attempts to increase network availability in the US.
The telecoms firm urged the FTC to reconsider how it looks at such moves in the future, and promised to continue to support the development of local infrastructure.
"AT&T will continue to be aggressive in leading the mobile internet revolution," said AT&T chairman and chief executive Randall Stephenson as he formally ended the negotiations and called for changes from the government.
"To meet the needs of our customers, we will continue to invest. 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."
AT&T will take a charge of $4bn as part of the settlement, and start a mutually beneficial roaming agreement with Deutsche Telekom, which owns T-Mobile USA.
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