AT&T To Press: We Withdrew Our Merger Application First

This morning, AT&T issued a formal statement on the withdrawal of its application from the FCC regarding its merger with T-Mobile. The company had previously agreed to pay a $4 billion pre-tax charge in the case that its $39 billion takeover of T-Mobile failed to go through, $3 billion of which would go to Deutsche Telekom's T-Mobile and another $1 billion going to the book value of spectrum access. Yesterday, on Thanksgiving Day here in the U.S., AT&T released a statement announcing its intention to withdraw its request from the FCC. Today's statement is meant to clear up misconceptions around its withdrawal request, namely that the FCC must approve it.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/SvYrNX1tgWs/

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