AP: T-Mobile USA acquires MetroPCS

May 2, 2013

Technology

(AP) T-Mobile USA has closed its deal to acquire smaller rival MetroPCS. The combined company, called T-Mobile US, began trading on the New York Stock Exchange Wednesday under the ticker symbol “TMUS.”

T-Mobile, the country’s fourth-largest cellphone carrier, is adding 9 million MetroPCS customers to its own 34 million. The combined company still lags No. 3 Sprint Nextel in size.

Under terms of the deal, MetroPCS shareholders are getting $4.08 per share in cash, or $1.5 billion. They’re also getting half a share of the new company for each MetroPCS share, resulting in a 26 percent ownership stake.

No immediate changes are expected for customers of either company. However, T-Mobile plans to shut down MetroPCS’s network over two years, which means MetroPCS phones will eventually stop working. T-Mobile will use the space freed up on the airwaves to boost its own coverage and data speeds.

MBJ wrote about T-Mobile’s proposed merger with AT&T in 2011. The plan was challenged by the FCC, the White House and an anti-trust congressional committee and ultimately failed.

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About Stephen McDill

Stephen McDill joined the Mississippi Business Journal in 2008 after working in radio and television. He is a graduate of Belhaven University and has won awards for his writing and photojournalism from the Associated Press and Mississippi Press Association.

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One Response to “AP: T-Mobile USA acquires MetroPCS”

  1. Roger Says:

    T-Mobile is unethical company as the HR and Mid-Level management is corrupt.

    One great example will be one of director of Engineering team John Pottle replaced one of the best manager by another manager under the pretext of restructuring. This let go employee is one of the most competent, educated, longest tenure at his position and an excellent attitude employee. Now all our mid-level manager says this was not due to his competency or knowledge or attitude, this was a business reason…He was the only colored skin manager in John’s team and his Job was given to Caucasian women, for some reason we want to say it is called racism…anyway, which employee or a normal person has strength or resource to have a legal fight.

    Director like John are protected by HR and lawyers of the company and it is well known fact just two years back someone else also tried to fight a legal fight on basis of racism in same director’s team, with no wining.

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