May 18 AT&T and DirecTV have
agreed that there will not be a reverse break-up fee, or penalty
that AT&T 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 AT&T
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 AT&T'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
Representatives for AT&T and DirecTV could not be immediately
reached for comment.
(Reporting by Soyoung Kim; Editing by Bernard Orr)