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T-Mobile USA agrees to buy MetroPCS

T-Mobile USA will pay MetroPCS shareholders $1.5 billion in cash, and a 26 percent stake in the combined company

By Mikael RicknA$?s
October 3, 2012 09:45 AM ET

IDG News Service - Deutsche Telekom's T-Mobile USA and MetroPCS Communications have signed an agreement to merge in a deal that will see MetroPCS shareholders receive US$1.5 billion in cash and 26 percent of the new company.

The combined company will retain the T-Mobile name, and will be able to compete better with the other national U.S. wireless carriers thanks to expanded scale, more spectrum and financial resources, the two operators said in a statement.

Deutsche Telekom's supervisory board and MetroPCS's board of directors unanimously approved the transaction.

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Reprinted with permission from IDG.net. Story copyright 2014 International Data Group. All rights reserved.
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