AT&T's deal to buy T-Mobile unravels
With AT&T still reeling from the U.S. Department of Justice's August lawsuit to block its $39 billion acquisition of T-Mobile USA, staff at the Federal Communications Commission in November announced they found the deal against the public interest. Government officials say it would create the largest concentration of market power in the U.S. mobile industry, reducing competition, raising prices and crushing innovation. The carriers say the deal is necessary for them to bring LTE (Long-Term Evolution) broadband to nearly all of the U.S. Under heavy fire, though, the deal will quite possibly fall apart for good. District Court Judge Ellen Segal Huvelle has granted a request from AT&T to halt the DOJ's lawsuit while the two carriers decide whether to move forward with a merger. AT&T will present a status report on Jan. 12.