T-Mobile Buys SunCom For $2.4 Billion

Deutsche Telekom’s US subsidiary T-Mobile will acquire all outstanding shares of cellco SunCom Wireless Holdings for $2.4 billion — $1.6 for the shares ($27 per share, a premium of 22.7 percent) and another $800 million in assumed debt. It expects the deal to create synergies of around $1 billion, mainly through the reduction of roaming fees and operating costs reports WSJ. SunCom had around 1.1 million customers halfway through this year. “SunCom booked sales of $242.5 million in the first half, up from $206.7 million in the same period a year ago. In terms of operating results, the company booked $31 million in the first half of 2007 compared with a loss of $181 million the previous year.”

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