AT&T and Deutsche Telekom continue to pursue sale of DT's U.S. wireless assets
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Deutsche Telekom and AT&T continue to pursue Sale of T-Mobile USA
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Both companies withdraw FCC applications
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Both companies to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice
After the Federal Communications Commission (FCC) on November 22 announced that it is circulating a proposed order that would designate the sale of T-Mobile USA to AT&T for hearing, both Deutsche Telekom and AT&T today (November 23), without prejudice, withdrew the pending applications regarding the sale of T-Mobile USA. The pending applications are listed in the Public Notice released by the Federal Communications Commission on April 28, 2011 in that proceeding. Both companies are continuing to pursue the sale of T-Mobile USA to AT&T.
This formal step today is being undertaken by both companies to consolidate their strength and to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice. As soon as practical, Deutsche Telekom and AT&T intend to seek the necessary FCC approval.
In addition, AT&T has announced it expects to recognize a pretax accounting charge to reflect the potential break up fees due to Deutsche Telekom in the event that the transaction does not receive regulatory approval.
This media information contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. These forward-looking statements include statements with regard to the expected developments. You should consider them with caution. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom's control. If these risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, our actual performance may materially differ from the performance expressed or implied by forward-looking statements. We can offer no assurance that our estimates or expectations will be achieved. Without prejudice to existing obligations under capital market law, we do not assume any obligation to update forward-looking statements to take new information or future events into account or otherwise.
About Deutsche Telekom
Deutsche Telekom is one of the world’s leading integrated telecommunications companies with more than 128 million mobile customers, about 35 million fixed-network lines and approximately 17 million broadband lines (as of September 30, 2011). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in over 50 countries and has around 238,000 employees worldwide. The Group generated revenues of EUR 62.4 billion in the 2010 financial year - more than half of it outside Germany (as of December 31, 2010).
News Source : AT&T and Deutsche Telekom continue to pursue sale of DT's U.S. wireless assets
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