AT&T Officially Withdraws T-Mobile Bid

AT&T Officially Withdraws T-Mobile Bid

After a lot of discussion, AT&T announced that they are withdrawing their bid to buy T-Mobile for $39 million. Since the acquisition was proposed back in March, AT&T has received opposition from the state of New York,  a lawsuit from Sprint, a big thumbs down from the FCC, and a lot of other negative press. It appears that the current administration does not want a rehash of the Ma Bell days. For canceling the bid, AT&T will have to pay T-Mobile a $3 million penalty. Ouch! This turned out to be a bad move for AT&T.

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avatar KALE: A geek who works in the IT Security field and lives in Dallas, TX. He is also a music geek who has played in several local bands. Previous to his IT career, Kale worked as a photojournalist. He brings technical advice and artistic counterpoint to the podcast.