Updated 5:52 pm ET, Monday, December 19
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AT&T is dropping its bid to merge with T-Mobile, AT&T announced late Monday. But the company said it will enter into a "mutually beneficial roaming agreement" with T-Mobile's German parent company, Deutsche Telekom.
Still, AT&T acknowledged in a statement to TPM that it will pay a previously agreed-to $4 billion breakup fee to Deutsche Telekom, which will show up on AT&T's fourth quarter balance sheets.