UPDATE: 11/27/11, 12:25 p.m., EST: The New York Times reports that AT&T and T-Mobile USA have responded to the FCC’s move to block their proposed merger by withdrawing their application seeking FCC approval of the tie-up. According to The Times, the companies will focus their efforts instead on winning a federal antitrust suit filed in opposition to the merger, and AT&T will take a $4 billion charge against earnings to reflect the breakup fee the company must pay T-Mobile’s parent Deutsche Telekom if the deal collapses.
The Federal Communications Commission and the European Commission are keeping antitrust litigators from Am Law 200 firms busy as they seek regulatory approval for a pair of billion-dollar mergers.
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