AT&T Buys T-Mobile for $39 Billion

AT&T has just announced an agreement to purchase T-Mobile for $39 billion which would combine two of the four largest cellphone carriers in the United States.  According to CNBC, both boards agreed on the merger with AT&T financing the cash portion of the merger but will not assume any of the debt of T-Mobile USA or Deutsche Telekom who owns T-Mobile.  The deal is expected to take the rest of the year to close.

For more info check out CNBC.