AT&T, T-Mobile Deal Falters As Cos. Yank FCC Application

Law360, New York (November 25, 2011, 1:26 PM EST) -- AT&T Inc. said Thursday it had pulled its application with the Federal Communications Commission to acquire T-Mobile USA Inc. and would set aside $4 billion to cover the cost of the deal collapsing, in the first indication by the telecommunications giant that the planned $39 billion merger may not happen.

The company said it withdrew its merger application on Wednesday, a day after calls by FCC Chairman Julius Genachowski for an administrative hearing to examine the deal.

It said it would continue to pursue clearance for...
To view the full article, register now.