Deutsche Telekom to complete acquisition of SunCom Wireless Holdings

Deutsche Telekom to complete acquisition of SunCom Wireless Holdings

Deutsche Telekom AG has announced that they are now going to acquire the remaining stake in the SunCom Wireless Holdings Inc.

They would be paying $1.6 billion in cash for this deal.

This acquisition would help them expand the coverage by its T-Mobile USA unit across the southeastern United States and into the Caribbean.

The company would also gain new customers in new markets like Carolinas, Tennessee, Georgia, Puerto Rico and the U.S. Virgin Islands.

Rene Obermann, Deutsche Telekom’s chief executive added in a statement on this acquisition deal: “With the acquisition of SunCom, we will continue to implement our strategy to `grow abroad with mobile,’ which is part of our overall group strategy.”

They expect the deal to be complete by next year. It would require approval from regulatory bodies.