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AT&T Fails to Show Public Benefit of T-Mobile Merger, FCC Finds

AT&T Inc. failed to demonstrate the public benefits of its proposed $39 billion purchase of rival T-Mobile USA Inc. would exceed its costs, U.S. regulators said in the latest challenge to the deal.

A 109-page Federal Communications Commission report concludes the combination would cause significant jobs losses and that AT&T would probably build high-speed wireless Internet connections without the merger, an agency official said in a call yesterday outlining findings with ground rules forbidding identification by name. The conclusion undermines AT&T’s claims about the deal’s benefits, the official said.