AT&T Drops T-Mobile Bid

AT&T announced Monday that it would end its attempted takeover of T-Mobile, saying that it could not overcome opposition from the Justice Department and the Federal Communications Commission. The $39 billion deal would have been the largest corporate merger of the year, and would have created the nation’s biggest mobile phone provider. The Obama administration opposed the deal on anti-trust grounds, and the Justice Department sued in August to stop the merger from happening. Michael de la Merced, Dealbook reporter for The New York Times, discusses the latest on the story.