Justice Department will block AT&T/T-Mobile merger

The Justice Department is halting AT&T's (NYSE:T) $39 billion agreement to acquire T-Mobile USA, stating the deal would reduce competition and raise prices. AT&T could challenge the decision in court. AT&T has promised T-Mobile $3 billion if the deal falls through, although the operator still faces an uncertain future: It is struggling mightily to compete against its larger rivals and parent Deutsche Telekom AG has said it is unwilling to increase its investment in the venture. Article