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Monday, March 21, 2011

AT&T will acquire T-Mobile for $39 billion

On March 20, 2011, AT&T said that it will acquire T-Mobile USA from Deutsche Telekom in cash-and-stock for $39 billion. This acquisition will turn AT&T into the largest network operator in the U.S. Sprint Nextel, the third largest carrier in the U.S. also wanted to acquire the operator.

Under the agreement, AT&T will pay $25 billion in cash and sale 8 percent stake equity stake in the company to Deutesche Telekom, the largest network operator in Germany.

The deal will make AT&T even bigger than Verizon Wireless in the U.S. with a subscriber base of 129 million.

Till 2011, AT&T remained the exclusive iPhone carrier but iPhone users had been very unhappy with its service. iPhone users of New York frequently experienced dropped calls or lower Internet speed. In a 2010, Consumer Report survey, AT&T came up as the worst carrier in the country.

Related article:

Detroit Free Press

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