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T-Mobile USA to merge with MetroPCS
T-Mobile USA will merge with MetroPCS to take on bigger rivals Verizon Wireless, AT&T Inc and Sprint Nextel Corp, as per news reports.
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Zeebiz Bureau
New Delhi/New York: T-Mobile USA will merge with MetroPCS to take on bigger rivals Verizon Wireless, AT&T Inc and Sprint Nextel Corp, as per news reports.
MetroPCS shares, which rose 18 percent on Tuesday on reports that a deal was in the works, fell 9.8 percent to $12.24 as the reality of the challenges took hold.
Deutsche Telekom said on Wednesday that it will take a 74 percent stake in the combined company, with the deal structured as a reverse merger in which smaller MetroPCS will buy T-Mobile USA.
MetroPCS will declare a 1 for 2 reverse stock split and make a cash payment of $1.5 billion to its shareholders.
With Agency Inputs
New Delhi/New York: T-Mobile USA will merge with MetroPCS to take on bigger rivals Verizon Wireless, AT&T Inc and Sprint Nextel Corp, as per news reports.
MetroPCS shares, which rose 18 percent on Tuesday on reports that a deal was in the works, fell 9.8 percent to $12.24 as the reality of the challenges took hold.
Deutsche Telekom said on Wednesday that it will take a 74 percent stake in the combined company, with the deal structured as a reverse merger in which smaller MetroPCS will buy T-Mobile USA.
MetroPCS will declare a 1 for 2 reverse stock split and make a cash payment of $1.5 billion to its shareholders.
With Agency Inputs
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