AT&T and Deutsche Telekom AG has announced an agreement under which AT&T will acquire T-Mobile USA in return of a cash-and-stock transaction at approximately $39 billion.

Sprint was another buyer of T-Mobile but AT&T won the war and this will bring the combined user base to 130 million leaving AT&T to be the only national carrier GSM in the US.

It will take about 12 months to get things on track after AT&T and T-Mobile deal. To know further details you can read the full press release at the source.

Update: Tmonews has posted an internal email from T-Mobile CEO Philip Humm about the T-Mobile and AT&T acquisition that revealed Deutsche Telekom will receive $25 billion in cash and $14 billion in AT&T shares.

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