Deutsche Telekom to buy SunCom Wireless for $1.6 billion

Deutsche Telekom mobile-phone division T-Mobile USA has agreed to buy SunCom Wireless Holdings for about $1.6 billion, the companies said on Monday.

Deutsche Telekom said in a statement that it would also take on SunCom debt of almost $800 million and that it saw synergies from the transaction of about $1 billion.

SunCom shareholders will receive $27 per share, a 22.7 percent premium to Friday's closing price, the companies said.

"This acquisition will fit very well with our strategy to grow abroad with mobile, primarily within our current footprint within the context of market consolidation," Telekom Chief Executive René Obermann said in a statement. "We can realize significant synergies on the cost side and improve our market presence."

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- Posted: 2007-09-17 09:46:44

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