Oct. 1 (Bloomberg) -- AT&T Inc. and T-Mobile USA customers will have mobile-phone service on New York City subway stations after the carriers signed 10-year agreements to access an underground network being built by Transit Wireless LLC.
AT&T, the second-largest U.S. wireless carrier, and Deutsche Telekom AG’s T-Mobile will have the option to renew the contracts four times in increments of five years each, said Pat Smith, a spokesman for closely held Transit Wireless.
Transit Wireless said in July it secured new financing to build the network for New York’s 277 underground subway stations. The deal rejuvenated a plan that had been delayed for about three years.
An announcement on the agreements may come as soon as next week, Smith said.
AT&T, based in Dallas, rose 21 cents to $28.81 at 4 p.m. in New York Stock Exchange composite trading. The shares have added 2.8 percent this year.
