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Surprise! AT&T Admits Defeat, Withdraws T-Mobile Takeover Attempt, Pays $4 Billion Breakup Fee
from the wow dept
This is definitely a surprise, but it looks like AT&T finally read all the writing on the wall, and realized it was unlikely to win its fight with the DOJ and FCC and has officially killed its plan to try to purchase T-Mobile... meaning that it now has to pay the $4 billion breakup fee. While the trend of where this was heading was becoming increasingly obvious over the past few months, it's still pretty shocking on the whole. Getting big mergers like this through had become pretty standard, and AT&T (especially) excelled at the political dealing to make such things work. However, the growing public outcry and concerns over the lack of competition that would result seemed to finally have had a real impact.
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Another view
AT&T used the jobs line.
AT&T used blurred math to support the merger.
AT&T used lobbying companies from every part of the US, who didn't see a point in supporting AT&T except for dollar signs.
Let's face it, AT&T was their own worst enemy.
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Re:
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As for the $4 billion they have to pay DT, another article says that will really only cost them about $1.4 billion after a tax write off.
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Someone is Getting Rich
Just as a casual observer, it seems that corporate managers simply play the merger game as a technique of extracting the corporate wealth into their own pockets. I have no proof, but I have observed too many corporate mergers that seem to fail the smell test.
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Re: Someone is Getting Rich
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so, who paid them more?
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Surprised? Really???
IMHO, a good decision.
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Re: so, who paid them more?
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political dealing of AT&T
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Blast
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Re: Someone is Getting Rich
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Who really won here?
DT is still not going to build up T-Mobile (no matter who tries to make them).
AT&T is not going to increase their build outs (cost too much, with too much regulation).
Customers on both sides still have crappy service (lets be honest T-Mobile sucks...and yes I can say that as a customer).
So who really won here? Nobody.
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Re: Who really won here?
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They have to start first.
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Nothing they do seems to limit public outcry
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Don't forget...
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AT&T T-Mobile failed merger
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