Breaking: AT&T, T-Mobile Kill Merger
AT&T said it will record a $4 billion pretax accounting charge in the fourth quarter, to reflect the value of the breakup fee it owes to Deutsche Telekom. AT&T already had set aside the money. AT&T also said it will enter into a “mutually beneficial” mobile roaming agreement with Deutsche Telekom.
Shares of AT&T are slipping less than 1% in after-hours trading.
Sprint shares are spiking about 7% in after-hours trading. Sprint would have been left to twist in the wind as a distant No. 3 U.S. wireless carrier if T-Mobile and AT&T had combined. Shares of Dish Network, an opponent of the AT&T-TMobile merger, also are higher in after-hours trading.
All I have to say is GOOD.