Ladies and gentleman, we have a major acquisition taking place at the moment. AT&T, U.S. mobile service, has managed to strike a deal with Deutsche Telekom AG’s T-Mobile worth $39 billion.

This is so far the biggest deal this year and has already gained a lot of attention for numerous reasons. Once this deal finalizes, Verizon will drop to the second position as AT&T will become the No. 1 U.S. mobile service. Furthermore, experts believe that this deal will not be welcomed by T-mobile users as it might mean higher wireless service rates. There will be a lot of scrutiny from the regulators as well which we will get to hear about in the coming days.

This deal is extremely important for AT&T as according to estimations, it will raise its market share from 32 percent to 43 percent. This acquisition will also provide AT&T with T-Mobile’s spectrum which it needs to meet the users’ data and media needs.

The deal is yet to be officially finalized. Lets see how it goes in the next few days.