T-Mobile announced today that it will be purchasing SunCom Wireless for an estimated $1.6 billion. The deal, expected to close in 2008, allows T-Mobile to take on about $800 million in debt that SunCom has resting on its shoulders. Never heard of SunCom? That’s because it’s a small wireless company that operates in a few southeastern states. If all the telecom giants like AT&T, Verizon and T-Mobile keep buying out the little guys though, soon we’ll have fewer and fewer options for our cellphones.
D. Telekom Buys SunCom [Reuters]