Thursday, November 24, 2011

AT&T to Post $4 Billion Charge Against Possible Collapse of T-Mobile Deal - Bloomberg

“Oops”

AT&T Inc. (T), whose $39 billion bid forT-Mobile USA is challenged by the U.S. Justice Department, will record one-time costs of $4 billion this quarter to reflect the risks of a collapse of the deal.

AT&T and T-Mobile owner Deutsche Telekom withdrew an application to the U.S. Federal Communications Commission to focus on winning clearance from the Justice Department, the companies said in separate statements today. The pretax accounting costs reflect the potential breakup fees due to Deutsche Telekom, Dallas-based AT&T said.

AT&T to Post $4 Billion Charge Against Possible Collapse of T-Mobile Deal - Bloomberg

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