FCC Says AT&T Merger Would Harm Competition

Law360, New York (November 29, 2011, 10:40 PM EST) -- The Federal Communications Commission on Tuesday allowed AT&T Inc. to withdraw its application for its $39 billion buyout of T-Mobile USA Inc., while at the same time releasing a report finding that the merger would harm competition in the wireless services industry.

The regulator said the planned merger's perceived benefits for consumers were significantly outweighed by the anti-competitive effects of the buyout, less than a week after AT&T announced its intentions to delay the merger in order to focus its resources on fending off the U.S....
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