AT&T intends to buy T-Mobile USA from Deutsche Telekom. The deal, which is worth $39 billion in cash and stocks, will take approximately 12 months to close according to sources at AT&T.
Last year, AT&T held a tiny lead over Verizon wireless with 95.5 million wireless subscribers versus 94.1 million. T-Mobile had 33.7 million. The Verizon iPhone likely pushed the numbers closer and possibly put them in the lead currently.
If the deal is allowed to go through, AT&T will again have a huge lead over the industry. A press conference will be held tomorrow to shed more light on this development.