Mergers and Acquistions News
Categories: Telecoms
November 25th 2011, 16:22PM
The proposed merger between telecommunications giants AT&T and T-Mobile USA appears to be off after the firms withdrew their regulatory applications to complete the deal.
Both organisations have pulled out of trying to get approval from the Federal Communications Commission (FCC) for the $39 billion (£24 billion) proposal, although parent firm Deutsche Telekom has indicated it still wants to proceed.
However, a statement from the FCC appeared fairly unequivocal in terms of the agreement being postponed on a permanent basis.
"The record clearly shows that - in no uncertain terms - this merger would result in a massive loss of US jobs and investment," it noted.
Earlier in the year, the regulatory body voiced its concern that this could have a negative impact on competition in the sector.
This comes after Reuters reported that investors believe a full merger between phone companies Vodafone and Verizon could be on the cards. 
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