US telecom major, AT&T, which has proposed a deal to take over T-Mobile USA for about $39 billion, has said that the newly released report by the FCC on the proposed deal in imbalanced and lacks credibility.

Jim Cicconi from the AT&T said, "The document is so obviously one-sided that any fair-minded person reading it is left with the clear impression that it is an advocacy piece, and not a considered analysis." The report "cherry- picks facts to support its views and ignores facts that don't," the company said.

The FCC released a report on Tuesday that outlines its concerns on the deal. The watchdog said that takeover will result in an increase in both subscriber and spectrum concentration. It also warned that the merger would result in declining competition and net loss of jobs in the US market.

The repot from the FCC was released after the watchdog accepted the withdrawal of bid by AT&T to acquire T-Mobile USA in a deal worth about $39 billion. The two companies said that the withdrawal is a tactical move after the commission chairman said that he would move to oppose the deal.

The Justice Department had already filed an antitrust suit to oppose the merger. The two companies have affirmed that they are not walking away from the deal and will continue to fight for the takeover. They said that will fight the legal battle against the Department of Justice in the United States District Court for the District of Columbia for the deal or through "alternate means".

They said that the withdrawal is a tactical move after the commission chairman said that he would move to oppose the deal. The two firms said that they will now focus on the antitrust trial and expressed their commitment to continue to work on the proposed merger.