In a joint statement today, AT&T and T-Mobile announced they have withdrawn their application to the FCC for the $39 billion transaction to focus on gaining approval from the DOJ through trial or a settlement. AT&T said it intends to take a $4 billion pre-tax accounting charge - $3 billion in cash and $1 billion in spectrum - "to reflect the potential break up fees due Deutsche Telekom in the event the transaction does not receive regulatory approval."Hip, hip...hooray!
Thursday, November 24, 2011
From Politico --