AT&T To Acquire T-Mobile

Published by: Mike Goldman on 21st Mar 2011 | View all blogs by Mike Goldman
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AT&T To Acquire T-Mobile

AT&T announced over the weekend it has agreed to a deal to acquire T-Mobile USA from German Deutsche Telekom for a reported $39 billion.  The blockbuster deal would move AT&T past Verizon as the largest provider of mobile service in the US.  Comprised ob both cash and stock futures, the deal will need to receive regulatory approval before proceeding, and would give the company 34 million new customers while increasing its annual revenues from $58.5 billion in 2010 to an estimated $80 billion.

A spokesman for AT&T said the deal would add to the company's earnings within the first three years and help it to more effectively compete with mobile market leader Verizon.  The company's chairman and CEO, Randal Stephenson, said of the deal:  “this transaction represents a major commitment to strengthen and expand critical infrastructure for our nation's future.”

Stephenson added:  “It will improve network quality, and it will bring advanced... 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.”

According to a recent report from comScore, AT&T controlled 26.6 percent of the US mobile phone service market in December 2010, and T-Mobile boasted a 12.2 percent share.  Verizon, meanwhile, led the pack with a 31.3 percent share.  The acquisition of AT&T will also help AT&T to deal with the blow of Apple ending its exclusive deal to sell iPhones, as well as giving the company an established 4G network to offer subscribers more advanced wireless services.

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