AT&T admits they are giving up on plans to acquiring T-Mobile USA

Consumers in USA won as AT&T has been forced to give up their quest to acquire smaller rival T-Mobile USA.

The company admitted that they could not overcome the resistance from the American government which has been against this deal since the beginning.

The deal was worth over USD 39 billion and would have pretty much given them the monopoly over the GSM market in USA.

The company continues to claim that the American consumer would be harmed as it would slow down innovation and network expansion in the US market.

Remains to be seen how expensive this experiment has cost the company.