*Your choices in (mobile) phone companies just shrunk again. But on the other hand, T-Mobile will now have the iPhone.
On Sunday, AT&T Inc announced it would buy Deutsche Telekom AG’s T-Mobile USA in a cash-and-stock transaction worth around $39 billion.
As part of the deal, Deutsche Telekom will get about 8 percent stake in AT&T, and a Deutsche Telekom representative will join the AT&T board.
AT&T can increase the cash component so long as Deutsche Telekom receives at least a 5 percent equity stake in it.
The agreement has been approved by the boards of both companies.
For MORE of this story, visit the LA Times.