AT&T buys T-Mobile USA for $39 billion
The smartphone arena is getting hot these days. First Nokia and Microsoft form a partnership, and now AT&T plans on buying T-Mobile USA from Deutsche Telekom in a cash-and-stock deal valued at about $39 billion dollars.
As ComputerWorld reports, AT&T plans on buying T-Mobile USA in a cash and stock deal which will allow AT&T to add network capacity sooner than any alternative carrier such as Verizon and Sprint. AT&T will also now be able to bring its LTE (Long Term Evolution) technology to T-Mobile customers.
AT&T Chairman and CEO Randall Stephenson goes on to say: “This transaction delivers significant customer, shareowner and public benefits that are available at this level only from the combination of these two companies with complementary network technologies, spectrum positions and operations. It will improve network quality, and it will bring advanced LTE capabilities to more than 294 million people.”
The bord of directors of these companies have approved the deal and AT&T will have to give Deutsche Telekom about 8% of its equity stake.
Looks like AT&T got tired of those anti-AT&T TV commercials T-Mobile was pushing out. We will provide you with further details as it breaks.
Update: Geekwire has its paws on an exclusive message sent to T-Mobile employees from the T-Mobile CEO Philipp Humm regarding the sale to AT&T.
Update 2: “T-Mobile USA remains an independent company. The acquisition is expected to be completed in approximately 12 months. We do not offer the iPhone. We offer cutting edge devices like the Samsung Galaxy S 4G and coming soon our new Sidekick 4G.” Source: Is T-Mobile USA getting the iPhone?Further reading: AT&T, T-Mobile