AT&T All but Gives Up on T-Mobile Merger
Last ditch effort to focus on DOJ court case
AT&T looks like it might be ready to give up on its $39 billion proposed acquisition of T-Mobile. Staggering from the Federal Communications Commission's likely rejection of the deal, AT&T announced on Thanksgiving Day that it has withdrawn its application with the agency. AT&T also said it would take a $4 billion pretax accounting charge, which covers the $3 billion-negotiated break up fee with T-Mobile.
On Tuesday, FCC senior officials said the combination of the two companies would significantly diminish competition and "would result in a massive loss of U.S.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in