Today is looking like a happy Thanksgiving for Dan Hesse. AT&T has formally withdrawn their application from the Federal Communications Commission to acquire T-Mobile. Instead both AT&T and T-Mobile USA’s parent company Deutsche Telekom have decided to move their focuses towards fighting the Department of Justice’s ongoing antitrust lawsuit.
This move makes sense, considering that FCC approval is practically pointless if AT&T and Deutsche aren’t able to obtain approval from the DOJ. In addition to withdrawing their FCC application, AT&T reaffirmed that they would incur a $4 billion charge if the deal were to go sour. As it stands AT&T is also expecting to take out a pretax charge for the $4 billion sometime before the end of this year.