It's been a blood bath for the AT&T-Mobile deal the past few days, but it hasn't all been sour pudding. AT&T's still got its Hail Mary sell-off gambit in play, and if the merger totally goes under, the WSJ claims it might enter a joint venture with Deustche Telekom, T-Mobile's parent company.
The discussions with the German telecom company are still in the early stages—they're described as on the "back burner"—but it makes sense that they'd heat up in a hurry if the merger ends up biting the dust. The specifics of a joint venture entails are a little fuzzy, but likely involves AT&T getting access to the T-Mobile wireless spectrum it's been after. That would go a long way toward getting over that $4 billion
breakup fee. [WSJ via BGR]