AT&T, T-Mobile Merger Off

    This photo combination shows logos for AT&T, left, and Deutsche Telekom AG. AT&T Inc. on Sunday, March 20, 2011 said it will buy T-Mobile USA from Deutsche Telekom AG in a cash-and-stock deal valued at $39 billion, becoming the largest cellphone company in the U.S. (AP Photo)

    AP Photo

    So much for the AT&T, T-Mobile merger. AT&T called off the $39 billion deal, which had given the Justice Department as well as the Federal Communications Commission cause for concern, citing the fear that combining the two companies would limit competition within the wireless industry and drive up prices. AT&T denied this claim, insisting that the merger would have expanded the wireless network, helping both the industry and customers. Still, increased regulatory and legal action against the acquisition forced the wireless giant to call off the deal.

    Read it at Los Angeles Times