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AT&T To Buy T-Mobile USA For $39B
AT&T is purchasing T-Mobile USA from Deutsche Telekom in a cash-and-stock deal valued at about $39 billion.
AT&Tis purchasingT-Mobile USAfromDeutsche Telekomin a cash-and-stock deal valued at about $39 billion,The Wall Street Journalreports. The purchase price will include $25 billion in cash and the balance in AT&T stock, addsBloomberg. AT&T can increase the cash portion of the purchase price by up to $4.2 billion,offset by a reduction in stock, as long as Deutsche Telekom gets at least 5% equity interest in AT&T.
The deal may give Deutsche Telekom an 8% stake in AT&T. The company will fund the takeover through a $20 billion unsecured bridge loan it received fromJPMorgan Chase. It is not assuming any debt from T-Mobile or Deutsche Telekom. The buyer was advised by JP Morgan,Greenhill & CompanyandEvercore Partnerson the deal, which includes a break up fee of $3 billion.
Click here for the story fromThe Wall Street Journal.
Click here for additional coverage fromBloomberg.