Trending

Filed under: News | Technology News

 

AT&T buys T-Mobile USA in Surprise Move

Rumors so far had just talked up a Sprint T-Mobile USA marriage.

Mar 20 2011, 2:13pm CDT | by

AT&T buys T-Mobile USA in Surprise Move
 
 
 

Big business news on a Sunday! AT&T announced plans to buy T-Mobile USA from Deutsche Telekom. AT&T will acquire T-Mobile USA from Deutsche Telekom in a cash-and-stock transaction currently valued at approximately $39 billion. As part of the transaction, Deutsche Telekom will receive an equity stake in AT&T that, based on the terms of the agreement, would give Deutsche Telekom an ownership interest in AT&T of approximately 8 percent. A Deutsche Telekom representative will join the AT&T Board of Directors.

“This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation’s future,” said Randall Stephenson, AT&T Chairman and CEO. “It will improve network quality, and it will bring advanced LTE capabilities to more than 294 million people. Mobile broadband networks drive economic opportunity everywhere, and they enable the expanding high-tech ecosystem that includes device makers, cloud and content providers, app developers, customers, and more. During the past few years, America’s high-tech industry has delivered innovation at unprecedented speed, and this combination will accelerate its continued growth.”

Deutsche Telekom Chairman and CEO René Obermann said, “After evaluating strategic options for T-Mobile USA, I am confident that AT&T is the best partner for our customers, shareholders and the mobile broadband ecosystem. Our common network technology makes this a logical combination and provides an efficient path to gaining the spectrum and network assets needed to provide T-Mobile customers with 4G LTE and the best devices. Also, the transaction returns significant value to Deutsche Telekom shareholders and allows us to retain exposure to the U.S. market.”

This acquisition is will make AT&T much more competitive and Verizon will have to think about their next moves to counter this expansion of AT&T. Of course AT&T needs to first do their homework in leveraging the integration.

You Might Also Like

Updates

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

Comments

blog comments powered by Disqus

Latest stories

Fast &amp; Furious confirms Paul Walkers brothers to participate in film
Fast & Furious confirms Paul Walkers brothers to participate in film
Film is about a year away form hitting theaters
 
 
AC/DC News: Band isn’t going to retire says sources
AC/DC News: Band isn’t going to retire says sources
Guitarist Malcolm young is suffering form an illness according to sources
 
 
Samsung SDI releases a bendable battery for wearable devices
Samsung SDI releases a bendable battery for wearable devices
Samsung’s wearable gadgets launched recently seem to be the highlight of its innovative sphere.
 
 
iPhone 6 Mockup have been revealed in Hong Kong
iPhone 6 Mockup have been revealed in Hong Kong prior to the phone’s official launch
The iPhone 6 accessories were also exhibited at a hardware fair, alongside the iPhone 6’s mockup.
 
 
 

The Hottest Photos of Victoria's Secret Fashion Show 2013

 

Viral Stories the Web