In our last blog post, we discussed how AT&T is still working to make their merger with T-Mobile a reality. But the company is not yet ready to look only to the future. They are also expressing their opinion about the FCC's report on the initial proposal for the merger.

AT&T on Thursday blasted the FCC's critical report on the proposed $39 billion purchase of T-Mobile USA Inc., from the European communications company Deutsche Telekom. San Diego mergers and acquisitions lawyers noted that the U.S.-based communications company considers the FCC's opinion to be one-sided and unfair to AT&T.

AT&T's harsh words for the FCC are yet another indication that the company is not willing to give up on the T-Mobile deal. It has a strong financial incentive not to: because of how far the deal has progressed, AT&T would owe Deutsche Telekom a $4 billion break-up fee if the deal is rejected.

It appears at this point that the deal will not receive FCC approval. The FCC responded to AT&T's anger over the acquisition rejection, pointing out that AT&T's proposed merger would be the largest in wireless communications history, and that such a transaction would be a disservice to consumers due to reduced competition among companies. This would likely lead to less innovation and investment, and possibly higher prices for consumers.

The deal would also likely lead to significant U.S. job losses within AT&T and its new acquisition.

Source: Los Angeles Times "AT&T blasts FCC report on T-Mobile purchase as one-sided" Dec. 1, 2011