AT&T Inc., whose wireless unit is based in Atlanta, will buy wireless provider T-Mobile USA from Deutsche Telekom in a $39 billion cash-and-stock deal.

The companies reported jointly Sunday afternoon an agreement approved by the boards of directors of both companies. The $39 billion purchase price includes a cash payment of $25 billion with the balance to be paid using AT&T common stock, subject to adjustment. AT&T assumes no debt from T-Mobile USA or Deutsche Telekom.

Read more: AT&T to buy T-Mobile for $39B | Atlanta Business Chronicle