Monday afternoon AT&T announced that they were no longer seeking to merge with T-Mobile. That leaves AT&T on the hook for a $4 billion dollar break up payment to the nations 4th largest carrier.
It hasn’t looked good for the proposed merger since Thanksgiving. That was when AT&T withdrew it’s application to merge with T-Mobile after FCC Chairman Julius Genachowki has asked for an administrative hearing on the pending merger.
Sprint has been a huge opponent of the merger since it was announced the day before last spring’s CTIA Mobile Life convention in Orlando Florida.
Sprint issued this official statement: (after the break)
“Earlier today, AT&T terminated its definitive merger agreement with Deutsche Telekom to acquire T-Mobile USA. This is the right decision for consumers, competition and innovation in the wireless industry.
“From the beginning, Sprint has stood with consumers who spoke loudly and clearly that AT&T’s proposed takeover of T-Mobile would create an undeniable duopoly that would have resulted in higher prices, less innovation and fewer choices for the American consumer.
“Sprint commends the Department of Justice, the Federal Communications Commission and the bi-partisan group of state attorneys general who gave voice to the concerns of consumers across the country. We look forward to competing fiercely in the robust, competitive market that exists today and continuing to deliver the world class service and products that consumers have come to expect from Sprint.”