Deutsche Telekom to expand T-Mobile USA network with acquisition of SunCom Wireless
By Dusan Belic on Monday, September 17th, 2007 at 2:20 AM PST In Announcements, T-Mobile
While we’re still waiting for T-Mobile (NYSE: DT) to roll-out its 3G network in the States, their parent company Deutsche Telekom (NYSE: DT) decided it’s the coverage, not the technology, T-Mobile needs. Hence, they’ve agreed to buy SunCom Wireless for about $1.6 billion.
The deal will reportedly bring T-Mobile synergies worth about $1 billion, but also SunCom’s debt of almost $800 million. In addition — or that’s part of the “synergies package” — T-Mobile will expand its coverage to the Southeastern United States and to parts of the Caribbean, the regions where SunCom operates.
I’m sure bankers are rejoicing, but we still want 3G on T-Mobile USA! 
[Via: Reuters]
