AT&T announced today the intended acquisition of rival and #4 US wireless carrier, T-Mobile.

The boards of AT&T Inc. and Deutsche Telekom AG, owner of T-Mobile USA, came into an agreement that allows AT&T to acquire T-Mobile, in exchange for cash and stock worth approximately $39 billion.  Also, Deutsche Telekom AG will receive an 8% ownership share in the combined business.

No word on how long such an acquisition would take to be approved and finalized.  It is unclear at this time if the federal government will have issue with any of AT&T’s offer.

The full press release can be found here.