What does the impending AT&T and T-Mobile merger mean for you?

This weekend, AT&T announced plans to acquire T-Mobile USA for $39 billion, bringing its subscriber base to nearly 130 million up from about 95 million. Should the deal (which will take at least 12 months) go through, what does this mean for current T-Mobile and AT&T subscribers? First of all, nothing will change in the short term. Until the deal is approved by U.S. regulatory authorities, the two carriers will remain separate entities. If the merger is approved, customers will retain their current rates until their contract runs out. Here's how this merger could affect you in the long term.

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