AT&T announced a deal Sunday that will make it the largest cellphone company in the U.S., surpassing Verizon. AT&T reached an agreement to acquire T-Mobile from Deutsche Telekom for about $39 billion. The deal will need approval from the FCC and DoJ to verify it would not violate antitrust laws. If approved, it could close in about a year. AT&T triumphed in an earlier merger when it acquired Cingular Wireless for $41 billion in 2004. AT&T released a presentation online explaining how the U.S. wireless market will remain competitive even as it gains control of about 43 percent of the sector.
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Sparks Likely to Fly Before AT&T Gets to Seal T-Mobile Deal
Posted by: Rob Spiegel March 21, 2011 12:04 PMAT&T announced a deal Sunday that will make it the largest cellphone company in the U.S., surpassing Verizon. AT&T reached an agreement to acquire T-Mobile from Deutsche Telekom for about $39 billion. The deal will need approval from the FCC and DoJ to verify it would not violate antitrust laws. If approved, it could close in about a year. AT&T triumphed in an earlier merger when it acquired Cingular Wireless for $41 billion in 2004. AT&T released a presentation online explaining how the U.S. wireless market will remain competitive even as it gains control of about 43 percent of the sector.