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| Version 1 | Version 2 |
|---|---|
| AT&T to buy T-Mobile USA making it top US wireless firm | AT&T to buy T-Mobile USA making it top US wireless firm |
| (40 minutes later) | |
| AT&T said it will buy rival T-Mobile USA from Deutsche Telekom AG for $39bn (£24bn) making it the largest mobile phone company in the US. | |
| The deal would give AT&T about 43% market share, putting it well ahead of industry leader Verizon Wireless. | |
| T-Mobile customers will get access to AT&T's phone lineup, including the iPhone. | T-Mobile customers will get access to AT&T's phone lineup, including the iPhone. |
| The deal would reduce competition in the US mobile phone industry and needs approval from regulators. | The deal would reduce competition in the US mobile phone industry and needs approval from regulators. |
| AT&T is looking to increase its network capacity to handle the rapidly increasing consumer demand for videos and data. | |
| Regulatory approval | |
| However, analysts said that the deal may prove controversial. | |
| Consumer rights group Public Knowledge said that the deal would lead to "higher prices, fewer choices, less innovation". | Consumer rights group Public Knowledge said that the deal would lead to "higher prices, fewer choices, less innovation". |
| The phone companies countered that the US market was competitive and call prices had declined in recent years as a result. | The phone companies countered that the US market was competitive and call prices had declined in recent years as a result. |
| AT&T said regulators may ask it to sell some assets as a condition for approval. | AT&T said regulators may ask it to sell some assets as a condition for approval. |
| It said it expects the deal be completed in 12 months. | It said it expects the deal be completed in 12 months. |
| AT&T Chief Executive Randall Stephenson told reporters the company had done its 'homework' on the regulatory side of things. | |
| He said the deal could generate savings of more than $40bn. | |
| "This is a unique opportunity. It's rare you have transactions where the synergies are greater than the price paid," Mr Stephenson said. |