T-Mobile Acquiring SunCom

Deutsche Telekom's (DT Quote) T-Mobile USA unit reached a deal to buy SunCom Wireless Holdings (TPC Quote) for $1.6 billion in cash.

Mobile communications company T-Mobile will also take on about $800 million of SunCom debt.

SunCom offers digital wireless communications services to consumers in the southeastern U.S., Puerto Rico and the U.S. Virgin Islands, and it has more than 1 million subscribers. Its shares gained $3.85 to $25.85.

Deutsche Telekom's American depositary shares were up 8 cents to $19.10.