FCC allows AT&T to withdraw T-Mobile deal, to release findings today

During a conference call today, the FCC announced that it will accept AT&T's request to withdraw its application for the T-Mobile merger. The agency also revealed that it will be releasing findings today of what it uncovered from reviewing the merger application, but some portions will be redacted.

The FCC findings include the assessments that the merger would lead to significant job loss, the cost savings would unlikely be passed on to consumers, the efficiencies attainable by the merger have been overestimated, and that there lacks evidence that AT&T can't provide more than 80% LTE coverage without the merger.

A report of the findings will be sent in full to the Department of Justice to aid in their lawsuit against AT&T. The trial date is scheduled for February 13, with a hearing set for November 30, when it's speculated that AT&T may propose selling greater portions of T-Mobile's assets in order to close the deal.

[via TmoNews]