AT&T, T-Mobile Merger Off

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.