AT&T/T-Mobile withdraw FCC merger application

Politico reports:

AT&T and T-Mobile announced Thursday they have withdrawn their application to the FCC for approval of the $39 billion deal to focus on obtaining approval from the Justice Department through trial or a settlement.

Recognizing the difficult road ahead for approval of the deal, AT&T also said it intends to take a $4 billion pre-tax accounting charge “to reflect the potential break up fees due Deutsche Telekom in the event the transaction does not receive regulatory approval.”