AT&T to Buy T-Mobile USA

LET’S MAKE A DEAL

Updated Apr. 24, 2017 4:22PM EDT / Published Mar. 20, 2011 11:03AM EDT

M. Spencer Green / AP Photo; Frank Augstein / AP Photo

AT&T just swallowed up 46.5 million more customers: The mobile giant announced Sunday an agreement to buy T-Mobile USA for a whopping $39 billion in cash and stock, making the transaction one of the biggest mergers since the financial crisis. T-Mobile USA had been struggling along as the nation’s smallest major cellphone service, and the AT&T offer will finally allow the company to move forward with the 4G technology that its competitors have been using. T-Mobile USA was previously owned by Deutsche Telekom, which will acquire an 8 percent stake in AT&T through the deal. “This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation’s future,” said AT&T Chief Executive Randall Stephenson.

Read it at The New York Times

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AT&T to Buy T-Mobile USA

M. Spencer Green / AP Photo; Frank Augstein / AP Photo