AT&T Agrees to Buy T-Mobile for $39 Billion
Press release from the issuing company
Monday, March 21st, 2011
AT&T announced an agreement Sunday to acquire T-Mobile USA from Deutsche Telecom in a cash and stock deal valued at about $39 billion, according to a news release from AT&T.
The deal will provide AT&T's Atlanta-based wireless unit with much needed additional spectrum for data hungry smart phone users, said Jeff Kagan, a wireless industry analyst from Atlanta. The company has suffered from a lack of capacity due to the proliferation of smart phones, and while this pending merger will not help immediately, it should over the long term, Kagan said.
"It's a smart move for AT&T," he said. "Ultimately, I think since the company and customers are demanding more, this is going to be good."
