WHOAH! AT&T to Buy T-Mobile USA in $39 Billion Deal

AT&T announced on Sunday that it has agreed to buy T-Mobile USA from Deutsche Telekom for $39 billion in cash and stock, in one of the biggest mergers since the onset of the financial crisis.

The deal will dramatically bolster AT&T’s footprint in the country, adding an additional 46.5 million customers.

Under the terms of the deal, AT&T will pay $25 billion in cash and the rest in stock. Deutsche Telekom will in turn gain an 8 percent stake in AT&T and a seat on the American telecom giant’s board.

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