Sprint Drops Bid to Acquire T-Mobile Due to Regulatory Resistance

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Sprint is abandoning its pursuit of T-Mobile as the regulatory challenges of the deal are too steep. 

Inability to jointly bid on spectrum was the last straw in concluding that the deal would not receive regulatory approval, a source told CNBC, after the Federal Communications Commission (FCC) said last week that it would propose rules that would prevent Sprint and T-Mobile from bidding together in a crucial coming spectrum auction.