Even AT&T is acknowledging that its options are running out in its bid to acquire T-Mobile USA, and it now looks likely that the firm will have spent a year of time and resources, plus a $4bn break-up fee, to achieve precisely nothing. Earlier this week, the FCC called for an administrative hearing on the proposed $39bn deal, a technical procedure which is nevertheless a signal that the regulator wants to block the merger. Already facing a trial in February, in which it will defend the plan against the Department of Justice’s block, AT&T announced that it would take a $4bn charge in its fourth quarter to account for the risk of the deal failing ‘ which would mean having…