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AT&T's apparent failure to win approval for its bid to acquire T-Mobile could spell trouble...

AT&T's apparent failure to win approval for its bid to acquire T-Mobile could spell trouble for U.K. liquor giant Diageo's (DEO) reported interest in acquiring Beam (BEAM). Buying Beam would push Diageo's share of the U.S. spirits market, already more than 3x that of its nearest rival, north of 30%, and that might not sit well with regulators suddenly on edge about competitive balance.
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