AT&T said Monday that it’s backing out of its bid to acquire Bellevue-based T-Mobile.
"The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry," AT&T said in a statement.
"It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled."
In March, AT&T and T-Mobile USA's parent company, Deutsche Telekom of Germany, announced that AT&T planned to purchase T-Mobile for $39 billion in cash and stock.
T-Mobile employs 3,300 people in the Seattle area--about 9 percent of its workforce nationwide--including retail store representatives, engineers and operational functions in the Bellevue corporate headquarters.
