Sources: The Wall Street Journal, AT&T
quote: T-Mobile was LOOKING to sell.
quote: The end result is that even if the takeover bid wasn't entirely hostile, it wasn't entirely welcome either.
quote: I would also argue that T-Mobile knows how to invest in their network a fair bit better than AT&T.
quote: Based solely on the size of the break-up fee that AT&T had to agree to, it is clear that T-Mobile WASN'T looking to sell - not to AT&T at least.
quote: This was a "reverse break-up fee." Usually created when the buyer knows that the deal will likely fall through or will not be a good business decision to the buyer
quote: This strongly implies that T-Mobile, and not AT&T, had superior leverage in the negotiation.