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AT&T Withdraws Its T-Mobile Application from FCC

The big news on this U.S. Thanksgiving holiday is that AT&T has pulled its application for T-Mobile from the FCC. This news comes just a day after we learned that the FCC believed that the merger would harm consumers.

As part of the original agreement, AT&T must now pay T-Mobile parent company Deutsche Telekom $4 billion in break-up fees. $3 billion of that is in cash and $1 billion is in spectrum.

Believe it or not, AT&T isn't giving up. AT&T is continuing to pursue T-Mobile's wireless assets. Here's the full release:

On Nov. 22, 2011, the Federal Communications Commission indicated a proposed order was circulating that would designate for hearing the applications of AT&T Inc. and Deutsche Telekom AG For Consent To Assign or Transfer Control of Licenses and Authorizations, WT Docket No. 11-65. On November 23, 2011, AT&T Inc. and Deutsche Telekom AG electronically withdrew without prejudice, as of that date, the pending applications listed in the Public Notice released by the Federal Communications Commission on April 28, 2011 in that proceeding. Associated manual notification of withdrawal filings also are being made.