Breaking: AT&T Drops T-Mobile Purchase Bid

Multiple news sources and outlets have confirmed within the last few minutes that AT&T has abandoned its $39 billion purchase of T-Mobile USA. The decision to drop the purchase follows months of regulatory action by the FCC and Justice Department to block the merger. The latest actions to be made prior to the decision involved the FCC publishing an internal report on the effects of the merger which spelled out AT&T’s claims and essentially refuted each one after AT&T rescinded its original intent to merge letter filed in May within the last few weeks.