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AT&T plans to buy T-Mobile USA for $39bn
Business digest: If deal is approved, US telephone giant would have a 43 per cent market share
One of the biggest companies in America, telephone company AT&T, has announced that it is buying rival T-Mobile USA for $39bn - a deal that would give it 43 per cent of the US market.
The takeover will need approval from competition regulators, who may ask AT&T to sell some of its assets.
Consumer rights group Public Knowledge warned that the move could lead to "higher prices, fewer choices, less innovation".
But AT&T chief executive, Randall Stephenson, said: "This is a unique opportunity. It's rare you have transactions where the synergies are greater than the price paid." The company hopes to save $40bn by combining operations.
The deal is a blow to Verizon Wireless, which is the current wireless services industry leader in the US.
Read a full report at BBC News. ·
