The attempt ends with nothing, after nine months AT&T to buy T-Mobile to consolidate its position as number two in US mobile behind Verizon. AT&T announced yesterday that it has abandoned the offer, and who will pay $4 billion fine to Deutsche Telekom, owned by T-Mobile.
The payment will be booked in the fourth quarter of 2011. The 39 billion offer had met with strong opposition linked to the possible antitrust implications. The combination of the number two and four in the sector would have created, according to opponents, dominant positions in many markets.
At&T stock dropped 2% immediately after the announcement, which came after the close of trading yesterday on Wall Street. On the other hand, a peak of 7% for the share of Sprint, a direct competitor which with the merger would have remained at number three, widely detached.
