Tuesday, 29 March 2011

AT&T Purchases T-Mobile with $39 Billion

AT&T, the third largest carrier in the U.S. has announced that it has made a deal of buying T-Mobile USA from Deutsche Telekom in a cash and stock deal worth $39 billion.The deal makes AT&T largest wireless carrier by a wide margin in the U.S, so it will probably face significant government scrutinys. T-Mobile has 129 million mobile customers, approximately 36 million fixed-network lines, and over 16 million broadband lines. AT&T believes the deal will allow it to improve capacity and network quality for customers, including providing what AT&T called an "efficient and certain solution to the impending exhaustion of wireless spectrum in some markets."

"This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation's future," AT&T Chairman and CEO Randall Stephenson said in a statement.

He added, "We are confident in our ability to execute a seamless integration, and with additional spectrum and network capabilities, we can better meet our customers' current demands, build for the future and help achieve the President's goals for a high-speed, wirelessly connected America."

AT&T has promised to expand 4G service to an additional 46.5 million people, including those living in rural and smaller communities.

The deal will combine two of the nation's major wireless carriers, leaving only Verizon and the much smaller Sprint in the market
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