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MetroPCS (PCS) to Merge with Deutsche Telekom's T-Mobile USA Unit
October 3, 2012 8:51 AM EDTDeutsche Telekom and MetroPCS Communications, Inc. (NYSE: PCS) have signed a definitive agreement to combine T-Mobile USA (T-Mobile) and MetroPCS. This transaction will create the leading value carrier in the U.S. wireless marketplace, which will deliver an enhanced customer experience through a wider selection of affordable products and services, deeper network coverage and a clear-cut technology path to one common LTE network. The combined company, which will retain the T-Mobile name, will have the expanded scale, spectrum and financial resources to aggressively compete with the other national U.S. wireless carriers.
Deutsche Telekoms supervisory board and MetroPCS board of directors approved the transaction. The transaction is structured as a recapitalization, in which MetroPCS will declare a 1 for 2 reverse stock split, make a cash payment of $1.5 billion to its shareholders (approximately $4.09 per... More
