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AT&T won’t pay break-up fee if regulators reject deal: source

19
May
2014

(Reuters) – ATT and DirecTV have agreed that there will not be a reverse break-up fee, or penalty that ATT would have to pay the satellite operator if regulators shut down the proposed combination, according to a person familiar with the matter. DirecTV has agreed to pay a $1.4 billion breakup fee to ATT if the satellite operator ditches the deal to pursue a potential topping bid, the person added, asking not to be named because the matter is not public. In 2011, when regulators shot down ATT’s purchase of T-Mobile, the larger telecommunications company had to pay $3 billion in cash and another $3 billion in assets to its smaller rival. Representatives for ATT and DirecTV could not be immediately reached for comment.

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