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howz this for end of year tax planning/strategy?
12/19/2011 @ 4:44PM
AT&T Drops T-Mobile Bid, Will Take $4 Billion Charge
http://www.forbes.com/sites/stevesch...illion-charge/
and the only thing better than a good tax dodge is using the presidential elections to get some FREE PUBLICITY?
http://www.huffingtonpost.com/andy-o..._b_862642.html
howz this for end of year tax planning/strategy?
12/19/2011 @ 4:44PM
AT&T Drops T-Mobile Bid, Will Take $4 Billion Charge
http://www.forbes.com/sites/stevesch...illion-charge/
Shares of AT&T were trading lower after the closing bell Monday, following a statement from the wireless giant scrapping its planned takeover of T-Mobile.
The massive deal, agreed to earlier this year with T-Mobile’s parent Deutsche Telekom, was met with stiff resistance from regulators and the Department of Justice. AT&T said it will take a $4 billion pre-tax charge to fourth-quarter earnings to account for the breakup fee it will pay Deutsche Telekom.
“The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry,” AT&T’s statement reads. The combination “would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled,” the company release continues.
AT&T Chief Executive Randall Stephenson said the telecommunications giant will continue to invest, but that policymakers need to step up in order to allow companies to meet the need for additional capacity in a world where smartphones are increasing the demand for mobile data.
“In the near term, they should allow the free markets to work so that additional spectrum is available to meet the immediate needs of the U.S. wireless industry, including expeditiously approving our acquisition of unused Qualcomm spectrum currently pending before the FCC,” according to stephenson. “Second, policymakers should enact legislation to meet our nation’s longer-term spectrum needs.
“The mobile Internet is a dynamic industry that can be a critical driver in restoring American economic growth and job creation, but only if companies are allowed to react quickly to customer needs and market forces,” he added.
Regulators and the DoJ had expressed concern about AT&T grabbing too much share in the mobile space where it competes with the likes of Verizon Communications, Sprint Nextel and smaller regional players like CenturyLink. AT&T had been trying to find ways to make the deal more palatable, including divesting spectrum assets, but overcoming the hurdles to the deal appeared to be a losing battle and Monday’s announcement comes as less than a shock. The company will enter into a roaming deal with Deutsche Telekom.
AT&T shares dipped 0.5% to $28.59in after-hours trading. Verizon was up 0.6% and Sprint jumped 6.9%, while JPMorgan Chase, which had arranged $20 billion in financing for the T-Mobile acqusition, was unchanged after losing 3.7% earlier Monday.
The massive deal, agreed to earlier this year with T-Mobile’s parent Deutsche Telekom, was met with stiff resistance from regulators and the Department of Justice. AT&T said it will take a $4 billion pre-tax charge to fourth-quarter earnings to account for the breakup fee it will pay Deutsche Telekom.
“The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry,” AT&T’s statement reads. The combination “would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled,” the company release continues.
AT&T Chief Executive Randall Stephenson said the telecommunications giant will continue to invest, but that policymakers need to step up in order to allow companies to meet the need for additional capacity in a world where smartphones are increasing the demand for mobile data.
“In the near term, they should allow the free markets to work so that additional spectrum is available to meet the immediate needs of the U.S. wireless industry, including expeditiously approving our acquisition of unused Qualcomm spectrum currently pending before the FCC,” according to stephenson. “Second, policymakers should enact legislation to meet our nation’s longer-term spectrum needs.
“The mobile Internet is a dynamic industry that can be a critical driver in restoring American economic growth and job creation, but only if companies are allowed to react quickly to customer needs and market forces,” he added.
Regulators and the DoJ had expressed concern about AT&T grabbing too much share in the mobile space where it competes with the likes of Verizon Communications, Sprint Nextel and smaller regional players like CenturyLink. AT&T had been trying to find ways to make the deal more palatable, including divesting spectrum assets, but overcoming the hurdles to the deal appeared to be a losing battle and Monday’s announcement comes as less than a shock. The company will enter into a roaming deal with Deutsche Telekom.
AT&T shares dipped 0.5% to $28.59in after-hours trading. Verizon was up 0.6% and Sprint jumped 6.9%, while JPMorgan Chase, which had arranged $20 billion in financing for the T-Mobile acqusition, was unchanged after losing 3.7% earlier Monday.
and the only thing better than a good tax dodge is using the presidential elections to get some FREE PUBLICITY?
http://www.huffingtonpost.com/andy-o..._b_862642.html