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November 29, 2011

AT&T making last-ditch attempts to save T-Mobile deal, say reports

AT&T to sell 40% assets to Leap, says New York Times

By CBR Staff Writer

AT&T is said to be considering selling up to 40% of its assets in T-Mobile in a bid to appease the regulators at the DOJ and FCC who oppose the deal, according to Bloomberg.

According to New York Times, AT&T is planning on selling these assets to Leap Wireless. AT&T is hoping such a deal would mollify the Justice Department enough for it to drop its opposition to AT&T’s acquisition of T-Mobile or at least strengthen AT&T’s hand if it goes to trial with DOJ, it was reported.

Though the deal would make Leap the fourth-largest wireless carrier in the US, it would allow AT&T to retain enough of T-Mobile’s valuable wireless spectrum it is said.

According to Thomson Reuters and Freeman Consulting, AT&T’s advisers, including Greenhill & Company, Evercore Partners and JPMorgan Chase, will make $18 million to $36 million each if the deal goes through.

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