AT&T Merger With T-Mobile Shows Signs of Faltering

AT&T and T-Mobile USA appeared to edge closer to scrapping their proposed merger, saying on Thursday that they had withdrawn their application to the Federal Communications Commission to join their cellular phone operations.

Deutsche Telekom, the parent of T-Mobile, and AT&T said in a joint statement that they still intended to pursue the $39 billion merger and would prepare for a federal antitrust lawsuit that is seeking to block the deal.

But the companies also said that AT&T planned to take a $4 billion charge against earnings to reflect the potential breakup fees that AT&T would have to pay Deutsche Telekom if the deal failed to go through.

Read Full Article from New York Times

- Posted: 2011-11-24 13:44:28

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