AT&T Posts $6.7B Loss Thanks To T-Mobile Breakup Fee

Law360, New York (January 26, 2012, 5:17 PM EST) -- AT&T Inc. on Thursday reported a $6.7 billion net loss for the fourth quarter of 2011, mainly due to a massive breakup fee paid after the company abandoned its proposed acquisition of T-Mobile USA Inc.

The Dallas-based carrier largely attributed the losses to the $4.2 billion merger termination fee and $2.9 billion spent on asset impairments. For the entirety of 2011, AT&T reported net income of $3.9 billion compared to $19.9 billion in 2010.

Following Thursday's release of the quarterly report, AT&T stock price fell 0.8...
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