Mass. atty. gen. happy AT&T drops bid for T-Mobile
BOSTON—Massachusetts Attorney General Martha Coakley is celebrating AT&T is abandoning its $39 billion bid to buy T-Mobile USA after fierce government objections.
The cellphone giant announced the decision Monday.
AT&T's purchase of T-Mobile from
The Justice Department sued to block the merger on Aug. 31, saying it would reduce competition and lead to higher prices. Coakley and attorney generals from six other states joined the lawsuit.
Coakley said Monday the collapse of the proposed merger is good news for Massachusetts consumers and businesses.
Last month, the companies withdrew their application to the Federal Communications Commission after its chairman also opposed the deal.