AT&T Rises on $39 Billion Bid for T-Mobile, Wireless Lead

AT&T Inc. rose after agreeing to buy T-Mobile USA from Deutsche Telekom AG for $39 billion in cash and stock to create America’s largest mobile-phone company.

The deal would allow AT&T, now the second-largest U.S. wireless operator, to add about 34 million customers and surpass Verizon Wireless. The acquisition may face government scrutiny because it combines the second- and fourth-largest wireless providers, reducing consumer choice. Though regulatory approval may take a year, cost savings and revenue gains could total $3 billion a year, Dallas-based AT&T said.