AT&T Announces Surprise Acquisition of T-Mobile

AT&T has announced plans to purchase T-Mobile for $39 billion, officially reducing the number of major US carriers to three: AT&T, Verizon, and Sprint.

News of the unanticipated acquisition rocked the mobile world Sunday, as AT&T committed itself to “a significant expansion of robust 4G LTE deployment to 95 percent of the U.S. population to reach an additional 46.5 million Americans beyond current plans – including rural communities and small towns.”

If the deal is ultimately granted regulatory approval, AT&T will effectively become the largest wireless provider in the US.

The move comes as a significant setback to Verizon as the carriers (both of which now boast the iPhone) battle for mobile supremacy.

“This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation’s future,” said Randall Stephenson, AT&T Chairman and CEO. “It will improve network quality, and it will bring advanced LTE 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. During the past few years, America’s high-tech industry has delivered innovation at unprecedented speed, and this combination will accelerate its continued growth.”