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AT&T agrees to drop bid for T-Mobile

Justice Dept. had filed lawsuit to block merger

By Ryan Nakashima

 |  Associated Press  

  December 20, 2011

AT&T Inc. said Monday that it is ending its $39 billion bid to buy T-Mobile USA after facing fierce government objections. The cellphone giant said that the actions of the government to block the deal do not change the challenges of the wireless phone industry, which it says requires more airwaves, known as spectrum, to expand. The deal would have solved that problem for a time, and without it, “customers will be harmed and needed investment will be stifled,’’ AT&T said in a statement.

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