AT&T, T-Mobile Blocked: Tech Weekly Recap:
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NEW YORK (TheStreet) -- The U.S. Department of Justice flexed its muscles this week, blocking the $39 billion proposed merger of AT&T
and Deutsche Telekom's T-Mobile on Wednesday.
Even though AT&T tried a last-minute bribe of promising 5,000 new U.S. jobs to help gain support for the deal, the Justice Department filed a complaint to fight the combination of the nation's No. 2 and No. 4 wireless carriers.
The Justice Department said the merger would have resulted in "higher prices, fewer choices and lower quality products" for consumers, U.S. Deputy Attorney General James Cole said at a press conference Wednesday.
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