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: