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AT&T to acquire T-Mobile
21 March 2011: AT&T has consented to acquire T-Mobile USA from Deutsche Telekom for $39 billion (approx Rs 1,75,500 crore).
The deal will leave just three major cellular companies in the country: AT&T, Verizon and the much smaller Sprint Nextel. Under the terms of the deal, AT&T will pay $25 billion (approx Rs 1,12,500 crore) in cash and the balance in stock. Deutsche Telekom will gain an eight per cent stake in AT&T and a seat on the telecom giant's board.
At $39 billion, AT&T would be paying a significant premium to most analysts' estimates for T-Mobile. The deal requires approval from both the Justice Department and the Federal Communications Commission.
Source: Hindu