The bigger they are, the harder they fall: AT&T has formally abandoned its bid to take over number-four U.S. mobile operator T-Mobile. As a result, AT&T will take a $4 billion pretax charge during the fourth quarter of 2011 as part of its agreed-upon breakup fee; the terms of the deal also have AT&T required to relinquish assets and other services as part of the failure. However, AT&T also says it will enter into a “mutually beneficial” roaming agreement with Deutche Telekom, although no details have been spelled out.
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