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A costly lie

November 30, 2011

Josh Ong from AppleInsider reporting that FCC found out the AT&T and T-Mobile merger is flawed:

“Despite repeated claims that this transaction will be a significant job creator, the staff, after thorough review, could make no such finding,” Commissioner Michael J. Copps wrote in a statement regarding the report.

In translation; they are big fat liars. And the cost for such lie is not cheap:

AT&T now appears to be preparing for the worst. The company announced last week that it will take a $4 billion charge this quarter in case it has to pay fees to Deutsche Telekom should the deal fall through. AT&T is said to have agreed to a $3 billion break-up fee and the possible forfeiture of “several billion dollars” worth of wireless spectrum allotments.

Well, at least T-Mobile can still have a small smile at the end of the day.

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