A system of two interacting Cobalt atoms, at varying distances, has been studied in a recent Scanning Tunneling Microscope experiment by J. Bork et al., Nature Physics 7, 901 (2011). We propose a microscopic model that explains, for all the experimentally analyzed interatomic distances, the physics observed in these experiments. Our proposal is based on the two-impurity Anderson model, with the inclusion of a two-path geometry for charge transport. This many-body system is treated in the finite-U Slave Boson Mean Field Approximation and the Logarithmic-Discretization Embedded-Cluster Approximation. We physically characterize the different charge transport regimes of this system at various interatomic distances and show that, as in the experiments, the features observed in the transport properties depend on the presence of two impurities but also on the existence of two conducting channels for electron transport. We interpret the splitting observed in the conductance as the result of the hybridization of the two Kondo resonances associated to each impurity.