mergers

Business
8:25 am
Mon March 21, 2011

Bellevue-based T-Mobile and AT&T agree to merger

Deutsche Telekom Chairman and CEO Rene Obermann, left, and AT&T Chairman and CEO Randall Stephenson pose for photos in New York. AT&T Inc. said Sunday it will buy T-Mobile USA from Deutsche Telekom AG in a cash-and-stock deal valued at $39 billion

AT&T Inc. and T-Mobile want to merge. Boards of the mobile giants agreed to a $39 billion deal, announced Sunday, according to TechFlash reporter Greg Lamm:

The purchase, still subject to approval by regulatory boards, would create the largest mobile phone company in theU.S. If the deal closes, it would combine the nation's second- and fourth-largest wireless carriers, creating a company with nearly 130 million subscribers, and could lead to higher rates for consumers, experts said.

Lamm writes that until quite recently T-Mobile, the Seattle area's remaining major wireless firm, was considered to be in merger talks with Sprint Nextel. 

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