Discussions regarding potential asset sales that would help push through AT&T’s (NYSE:T) acquisition of Deutsche Telekom’s T –Mobile USA have reportedly “gone cold.”
The Wall Street Journal reports that the slowing of the talks could be the strongest signal yet that AT&T may abandon the $39 billion deal.
The newspaper reports that alternatives to a merger appear more likely, such as AT&T taking a stake in the smaller carrier, or sharing network technology via a joint venture.
The deal requires approval from both the Justice Department and the Federal Communications Commission to go through.
The Justice Department filed a lawsuit in August, saying the deal broke antitrust rules, and the companies have since put the suit on hold. AT&T has withdrawn its applications from the FCC.
The two companies had been pursuing a divestiture of some T-Mobile USA assets, worth as much as 30% of the deal’s value, to potential buyers like Leap Wireless (LEAP), Dish Network (DISH) and MetroPCS (PCS), the Journal noted.
The Wall Street Journal said its unnamed sources say all options are still on the table for a deal, including continuing to pursue the divestitures as well as simply abandoning a deal altogether.
Investors will want to keep an eye on AT&T’s trade today on the heels of the report.
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