AT&T to withdraw FCC application for T-Mobile merger

[Initech]

BUT... it's not over yet. AT&T still wants to pursue Deutsche Telekom's wireless business. Read more:

AT&T Withdraws Its T-Mobile Application from FCC

AT&T's hit a $4 billion failure, but it's not giving up.

ZoomThe big news on this U.S. Thanksgiving holiday is that AT&T has pulled its application for T-Mobile from the FCC. This news comes just a day after we learned that the FCC believed that the merger would harm consumers.

As part of the original agreement, AT&T must now pay T-Mobile parent company Deutsche Telekom $4 billion in break-up fees. $3 billion of that is in cash and $1 billion is in spectrum.

AT&T Inc. and Deutsche Telekom AG are continuing to pursue the sale of Deutsche Telekom’s U.S. wireless assets to AT&T and are taking this step to facilitate the consideration of all options at the FCC and to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice, either through the litigation pending before the United States District Court for the District of Columbia, Case No. 1:11-cv-01560 (ESH) or alternate means. As soon as practical, AT&T Inc. and Deutsche Telekom AG intend to seek the necessary FCC approval.

http://www.tomsguide.com/us/at-t-t-mobile-fcc-merger-break-up,news-13301.html

Ma Bell 2 ends, but Ma Bell 2.0 still is a huge possibility.