AT&T agrees to Buy T-Mobile for $39 Billion

AT&T Inc. agreed to buy T-Mobile USA from Deutsche Telekom AG (DTE) for about $39 billion in cash and stock to create America’s largest mobile-phone company, trumpingSprint Nextel Corp. (S)’s effort to acquire the business.

The deal would allow AT&T, now the second-largest U.S. wireless operator, to add about 34 million customers and surpass Verizon Wireless. The acquisition, the largest in the wireless industry since 2004, may face government scrutiny because it combines the second- and fourth-largest wireless providers, reducing consumer choice. Regulatory approval may take a year, Dallas-based AT&T said

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