Business & Tech

AT&T Drops Bid for Bellevue's T-Mobile

The company acknowledged Monday it couldn't overcome opposition from the federal government.

AT&T said Monday that it’s backing out of its bid to acquire Bellevue-based T-Mobile.

"The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry," AT&T said in a statement.

"It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage.Β  In the absence of such steps, customers will be harmed and needed investment will be stifled."

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In March, AT&T and T-Mobile USA's parent company, Deutsche Telekom of Germany, announced that AT&T planned to purchase T-Mobile for $39 billion in cash and stock.Β 

T-Mobile employs 3,300 people in the Seattle area--about 9 percent of its workforce nationwide--including retail store representatives, engineers and operational functions in the Bellevue corporate headquarters.

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