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AT&T Withdraws T-Mobile Application Deal

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Friday, 25 November 2011

AT&T Withdraws T-Mobile Application Deal



On Thanksgiving AT&T withdrew their application from the FCC to acquire T-Mobile after resistance by several parties including Sprint, C Spire, FCC and the DOJ. With the deal failing to go through, AT&T has to pay T-Mobile a $4 million break up fee as part of their original agreement. AT&T announced "it expects to recognize a pretax accounting charge to reflect the potential break up fees due to Deutsche Telekom in the event that the transaction does not receive regulatory approval."

Official T-Mobile Press Release:

  • Deutsche Telekom and AT&T continue to pursue Sale of T-Mobile USA
  • Both companies withdraw FCC applications
  • Both companies to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice

After the Federal Communications Commission (FCC) on November 22 announced that it is circulating a proposed order that would designate the sale of T-Mobile USA to AT&T for hearing, both Deutsche Telekom and AT&T today (November 23), without prejudice, withdrew the pending applications regarding the sale of T-Mobile USA. The pending applications are listed in the Public Notice released by the Federal Communications Commission on April 28, 2011 in that proceeding. Both companies are continuing to pursue the sale of T-Mobile USA to AT&T.

This formal step today is being undertaken by both companies to consolidate their strength and to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice. As soon as practical, Deutsche Telekom and AT&T intend to seek the necessary FCC approval.

In addition, AT&T has announced it expects to recognize a pretax accounting charge to reflect the potential break up fees due to Deutsche Telekom in the event that the transaction does not receive regulatory approval.


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