AT&T To Buy T-Mobile

Dallas-based AT&T and Deutsche Telekom AG said Sunday that AT&T will acquire T-Mobile USA in a deal worth approximately $39 billion. The companies said that the deal will help both firms add capacity sooner than other alternatives, citing the "impending exhaustion" of wireless spectrum in some markets. In a nod to the regulatory scrutiny sure to be applied to the deal, the two said that even after the acquisition the US wireless market will remain "one of the most fiercely competitive markets in the world". The two are expecting the move to take 12 months to close.