November 25, 2011, 8:00 PM UTC

AT&T said it would temporarily withdraw its applications with the FCC for its proposed $39 billion merger with T-Mobile, after the FCC said that it would refer the deal to an administrative hearing. FCC becomes the second federal agency to oppose the deal, following the Department of Justice. AT&T also said it would take a $4 billion accounting charge this quarter, to cover part of the $6 billion breakup fee it would be required to pay were the T-Mobile deal to collapse. www.att.com

Chow Tai Fook Jewelery, a Hong Kong-based jewelry retailer, is planning to raise more than $3 billion via an IPO, according to the New York Times.

Hutchison 3G has offered to acquire rival mobile operator Orange Austria for €1.4 billion from Mid Europa Partners (65% stake) and France Telecom (35%). www.orange.at

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