AT&T Withdraws Application To Acquire T-Mobile From The FCC

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Photo: Matt Rosoff Business Insider

AT&T withdrew its application to acquire T-Mobile from the Federal Communications Commission today, which means it may have to pay out $3 billion in cash and $1 billion in wireless spectrum to Deutsche Telekom if the deal doesn’t go through.Just because AT&T withdrew the application doesn’t mean the merger won’t happen — AT&T said it still plans on following through. This move will help AT&T focus on clearing the deal with the Department of Justice, according to a report by Bloomberg.

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