T-Mobile USA to merge with MetroPCS

By: The Associated Press
By: The Associated Press

Wednesday, Oct. 3, 2012

BERLIN (AP) -- The parent company of T-Mobile USA says it is merging its cell phone business with MetroPCS Communications.

Deutsche Telekom AG says its board of directors and the supervisory board have approved the merger Wednesday. It says the board of MetroPCS has also accepted the deal.

It says Deutsche Telekom will hold 74 percent of the new business. MetroPCS's shareholders will have the remaining stake and receive a payment of about $1.5 billion.

The companies confirmed they were in talks Tuesday. Analysts said the deal could shore up two struggling players in the U.S. wireless industry.

The combination with Dallas-based MetroPCS, which has 9.3 million subscribers, still leaves T-Mobile USA -- the country's fourth-largest cellphone company with 33.2 million subscribers -- trailing the market's No. 3, Sprint Nextel Corp.

(Copyright 2012, The Associated Press)


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
Mailing Address: P.O. Box 1212 Augusta, GA 30903 Main Telephone: (803) 278-1212 Newsroom: (803) 278-3111 newsroom@wrdw.com Fax: (803) 442-4561
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 172464651 - wrdw.com/a?a=172464651
Gray Television, Inc.