DALLAS & BONN, Germany-In a shock move, AT&T Inc. has announced a $39 billion cash-and-stock transaction buyout of T-Mobile USA from Deutsche Telekom AG in what could create the largest GSM conglomerate in the world. The deal would also make AT&T Inc. the largest operator in the U.S. by far. The $39 billion deal must first be approved by federal regulators. In a press release, AT&T Inc. reports that the buyout has been approved by both companies’ board of directors. AT&T Inc. also states that the transaction will allow it to expand its 4G LTE network to 95% of the population in the United States.
The news was met with mixed reaction as customers of T-Mobile groaned in collective despair but with the knowledge that they will now be able to enjoy the capabilities of the iPhone.
As of Q3 2010, AT&T Mobility had 92.8 million total subscribers and will add T-Mobile USA’s approximately 34 million users. In comparison, Verizon Wireless has 93.2 million subscribers, as of Q3 2010, and Sprint Nextel Corp. holds approximately 50 million subscribers.
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