Verizon is the best phone network in the USA. Everyone knows that. So what do you do when you are branded one of the worse and another company tries to buy it’s way to into the top.? Beat them to the punch, AT&T is buying T-Mobile.
AT&T will pay roughly $39 billion to Deutsche Telekom for T-Mobile USA. Deutsche Telekom will get 8% ownership stake in AT&T and an executive will join AT&T’s Board.
AT&T has about 95 million customers now add in the 35 million customers T-Mobile has and AT&T will go well past Verizon in terms of subscriber numbers. Verizon has about 100 million subscribers in the U.S. That leaves Sprint who was slow to the buy with about 50 million subscribers.
The agreement has already been approved by both Boards but will have to pass government scrutiny.
AT&T CEO Randall Stephenson’s quotes from the release:
“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. This transaction delivers significant customer, shareholder and public benefits that are available at this level only from the combination of these two companies with complementary network technologies, spectrum positions and operations. We are confident in our ability to execute a seamless integration, and with additional spectrum and network capabilities, we can better meet our customers’ current demands, build for the future and help achieve the President’s goals for a high-speed, wirelessly connected America.”