It looks like the proposed merger between AT&T and T-Mobile is history. After the FCC failed to approve the merger, AT&T reserved against a $3 billion cash penalty it will owe to T-Mobile if the merger fails. They are still preparing to fight a decision by the Justice Department to fight the merger on anti-trust grounds.
Its hard to believe that AT&T was willing to bet $3 billion in cash, and $1 billion worth of cell network spectrum, that the merger would be approved. They must have believed that their lobbying would pay off given the recent history of lax government oversight on anti-competitive mergers and acquisitions.
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