AT&T withdraws FCC application to buy T-Mobile, continues to purse deal -- wait, what?

Following a Federal Communications Commission proposal for hearings on the deal, AT&T has withdrawn its FCC application to buy T-Mobile USA from parent company Deutsche Telekom while simultaneously announcing they're continuing to try and get DoJ approval. Still at stake -- a ton of AT&T's cash.

As a result of the FCC’s action, AT&T expects to recognize a pretax accounting charge of $4 billion ($3 billion cash and $1 billion book value of spectrum) in the 4th quarter of 2011 to reflect the potential break up fees due Deutsche Telekom in the event the transaction does not receive regulatory approval.

Once again the proposed AT&T - T-Mobile USA merger -- AT&TMo if you're nasty -- proves itself to be the Schrodinger's cat of the wireless industry. And that's not good news for T-Mobile users still waiting... and waiting... and waiting... to get the iPhone on their network.

Source: AT&T

Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.