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T-Mobile Acquiring SunCom

The offer is valued at $1.6 billion.
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Deutsche Telekom's

(DT) - Get Free Report

T-Mobile USA unit reached a deal to buy

SunCom Wireless Holdings

(TPC) - Get Free Report

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.