In the midst of the 3G/4G advertisement confusion of T-Mobile lying about their network and AT&T following suit, this news just added to the craziness surrounding the two companies. AT&T has purchased T-Mobile USA from Deutsche Telekom for $39 billion, $25b in cash and $14b in stocks and bonds. This gives DT a stake in AT&T of 8% after the dust will inevitably clear.
This has happened because, as we have talked about on our show in the past, a foreign company cannot own more than 10% of a US-based company that owns or operates wireless spectrum. The FCC gave T-Mobile and DT a deadline to meet and they decided to sell off the T-Mobile USA brand today.
The acquisition will give 130 million customers nationwide to this new beast of a network, once it goes through the routine regulation board approvals and government checks. AT&T says it will take about 12 months to move through the entire ordeal and once completed, will become the only GSM carrier in the States.
Does this mean T-Mobile will get the iPhone? For more on this breaking news, including a press release, video from the chairman of AT&T, PDF factsheets, and how this affects you, click the break.