This would include a $3 billion cash payout as well as $1 billion-worth of operating spectrum that the company would owe T-Mobile parent company, Deutsche Telekom.
The companies also announced that they are withdrawing a pending application with the Federal Communications Commission (FCC) seeking approval for the deal – though they intend to continue arguing their case in favour of a successful outcome.
“AT&T Inc. and Deutsche Telekom AG are continuing to pursue the sale of Deutsche Telekom’s U.S. wireless assets to AT&T and are taking this step to facilitate the consideration of all options at the FCC and to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice,” the companies said in a statement.
“As soon as practical, AT&T Inc. and Deutsche Telekom AG intend to seek the necessary FCC approval.”
The FCC has indicated that they would be in favour of a hearing, which would investigate whether the deal would lessen competition in the U.S. telecoms space and negatively impact U.S. jobs.
Read the full story over at: All Things D.