AT&T sneaks in a note that says they set aside $4B for a break-up fee during the Thanksgiving break. AT&T withdrew its petition from the FCC as they wait to see what happens with the DOJ and the lawsuit.
AT&T is in a tiff with the FCC over the merger application withdrawal. The FCC may not let them withdraw it now. This should be interesting. Maybe the FCC will show some backbone and "release a hearing designation order (HDO) that says the wireless merger would not serve the public interest and would result in a "massive loss of U.S. jobs and investment.""
In other news, AT&T was trying to save the T-Mobile merger by selling customers and spectrum to Leap Wireless, according to the NY Times, Bloomberg and the Verge. If AT&T gave up 40% of T-Mobile, why would they bother acquiring it to begin with? Oh, wait, to take a competitor off the table. I forgot.
Either way T-Mobile is toast -- and Sprint isn't getting any better after this battle.