BUSINESS DIGEST | AT&T will buy T-Mobile for $39B
AT&T will buy T-Mobile for $39B
NEW YORK
AT&T Inc. said Sunday it will buy T-Mobile USA from Deutsche Telekom AG in a cash-and-stock deal valued at $39 billion that would make it the largest cell-phone company in the U.S.
The deal would reduce the number of wireless carriers with national coverage from four to three, and is sure to face close regulatory scrutiny. It also removes a potential partner for Sprint Nextel Corp., the struggling No. 3 carrier, which had been in talks to combine with T-Mobile USA, according to Wall Street Journal reports.
AT&T is now the country’s second-largest wireless carrier and T-Mobile USA is the fourth largest. The acquisition would give AT&T 129 million subscribers, vaulting it past Verizon Wireless to make it the largest U.S. cellphone company.
US gas prices jump another 7 cents
CAMARILLO, Calif.
The average U.S. price of a gallon of gasoline has jumped another 7 cents over the past two weeks.
The Lundberg Survey of fuel prices puts the average price for regular at $3.57.
Analyst Trilby Lundberg said Sunday that’s 76 cents per gallon higher than the price at this time last year.
The national average for mid-grade is $3.71. For premium, it’s $3.82 a gallon.
Lundberg says diesel prices rose 10 cents a gallon over the past two weeks, to $3.98.
Billings, Mont., had the nation’s lowest average price for gas at $3.27. San Francisco had the highest at $3.97.
Associated Press
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Aqua America, .62, 22.00 .23
Avalon Holdings,2.67—.03
Clear Channel, .76 52.40 .21
Cortland Bancorp, 6.070.00
Farmers Nat., .12, 4.46 —.04
First Energy, 2.20, 36.52—.04
FirstMerit Corp., .64,16.53 .29
First Niles Financial, .32,7.50.33
First Place Fin., 2.29—.11
FNB Corp., .48,10.19.16
General Motors,31.85—.41
General Electric, .56,19.25.03
Motors Liquidation, .05—0.00
Huntington Bank, .04, 6.69.07
JP Morgan Chase, .20,45.741.18
Key Corp, .04,8.92.07
LaFarge, 14.56 .71
Macy’s, .20, 22.99—12
Parker Hannifin, 1.28, 88.71.64
PNC, .40,62.76.75
RTI Intl. Metals,29.01.05
Rural/Metro, 12.87 —.63
Simon Prop. Grp.,3.20,103.88.54
Stoneridge 14.92 .05
United Community Fin. 1.38.05
Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.