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FCC approves MetroPCS' purchase of T-Mobile

Posted: , by Alan F.

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FCC approves MetroPCS' purchase of T-Mobile
Last week, the Department of Justice approved MetroPCS' purchase of T-Mobile in a reverse merger that has the fifth largest carrier in the nation acquiring the fourth largest carrier. Now, the FCC has joined along by putting its John Hancock on the dotted line which leaves just two more tasks to be done before the deal closes. First, because Deutsche Telekom will be owning the vast majority of the company after the deal is completed, the Committee on Foreign Investment must sign off on the acquisition, as must MetroPCS' shareholders. As the corporate parent of T-Mobile, Germany's Deutsche Telekom will own 74% of the combined company

"With today’s approval, America’s mobile market continues to strengthen, moving toward robust competition and revitalized competitors. We are seeing billions more in network investment, while the courts have upheld key FCC decisions to accelerate broadband build-out, promote competition, and benefit consumers, including our broadband data roaming and pole attachment rules. Today’s action will benefit millions of American consumers and help the U.S maintain the global leadership in mobile it has regained in recent years.

Mobile broadband is a key engine of economic growth, with U.S. annual wireless capital investment up 40% over the last four years, the largest increase in the world, and few sectors having more potential to create jobs. In this fast-moving space, of course challenges remain, including the need to unleash even more spectrum for mobile broadband and continuing to promote competition and protect consumers. The Commission will stay focused on these vital goals."-Julius Genachowski, FCC Chairman

MetroPCS stockholders will each receive $4.06 for each share, and will own 26% of the remaining company, which will trade publicly. While we expect that the surviving company will be called T-Mobile, there has been no official word on what the name will be. In addition to the Committee on Foreign Investment saying "yay" or "nay," MetroPCS shareholders will vote on the merger April 12th. To that end, the pre-paid carrier sent a letter to its stockholders this week, requesting that they vote in favor of the deal.

source: FCC via AndroidCentral

16 Comments
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posted on 12 Mar 2013, 20:28

1. androidornothing (Posts: 143; Member since: 26 Apr 2012)


Wow I didn't know metro PCS has that much money to buy out T-Mobile??? Kudos to them. Anyways Verizon FTW!!!

posted on 13 Mar 2013, 01:38

16. Cannabis (Posts: 22; Member since: 20 Jan 2013)


Other way around buddy, DT, T-MOUSA's mother company, basically got Metro to sell themselves out. DT (T-Mobile) will know own Metro until they are done converting Metro's CDMA into LTE Advanced and 20X20 LTE. Then the MetroPCS name disappears.

posted on 12 Mar 2013, 20:43 3

2. jroc74 (Posts: 4720; Member since: 30 Dec 2010)


Whoa....I didnt know Metro PC was like that. But...I do remember the first actual LTE service in the US was on Metro PC. Many think it was Verizon, it wasnt.

http://multivu.prnewswire.com/mnr/metropcs/46037/

I should've known then that Metro PCS was bigger than I thought.

posted on 12 Mar 2013, 20:46 2

3. 3SM.. (unregistered)


I'm like so confused on this.

posted on 12 Mar 2013, 20:50 3

4. denn90 (Posts: 14; Member since: 03 May 2011)


I thought it was T-Mobile USA Buying off Metro PCS not the other way around

posted on 12 Mar 2013, 20:59 2

5. InspectorGadget80 (Posts: 6260; Member since: 26 Mar 2011)


How does MetroPCS have more money than T-MOBILE and their not available nation wide

posted on 12 Mar 2013, 21:24 1

6. Alan01 (Posts: 180; Member since: 21 Mar 2012)


Because MetroPCS is the public company and T-Mobile is the private company, the deal is structured as a "reverse merger" in which the surviving company will be MetroPCS and Deutsche Telekom will own 74% of the stock.

Alan F.

posted on 12 Mar 2013, 21:41 3

7. archangel9 (Posts: 230; Member since: 07 Feb 2010)


Excellent! Nothing like decent competition. Take notice Verizon & At t.
Now people will get great service at a affordable price.

posted on 12 Mar 2013, 21:42 1

8. XPERIA-KNIGHT (Posts: 2384; Member since: 08 Aug 2012)


Id honestly rather t mobile buy metro pcs what the hell is this??

posted on 12 Mar 2013, 21:55

9. DarkShadow (Posts: 51; Member since: 01 Feb 2013)


What happin here metro pcs buy out Tmobile ???? han

posted on 12 Mar 2013, 22:22 1

10. richardyarrell2011 (banned) (Posts: 510; Member since: 16 Mar 2011)


This means nothing as to who owns who. It will be called Tmobile you will be able to walk into the tmobile store period.

posted on 12 Mar 2013, 22:24

11. richardyarrell2011 (banned) (Posts: 510; Member since: 16 Mar 2011)


http://www.tmonews.com/2013/03/fcc-says-yay-to-tmobile-merger-with-metropcs-approval-order-issued/

posted on 12 Mar 2013, 23:55

12. Berzerk000 (Posts: 3948; Member since: 26 Jun 2011)


Hopefully Metro switches their name to T-Mobile after the merger. I thought it would be T-Mobile taking in Metro?

posted on 13 Mar 2013, 00:01 1

13. -box- (Posts: 3749; Member since: 04 Jan 2012)


Holy cow, people.

R.T.F.A.

And the ones that relate to it.

posted on 13 Mar 2013, 00:54

14. MartianMe (unregistered)


Now google needs to merge with t-mobile and give us google fiber pls.

posted on 13 Mar 2013, 01:28

15. archangel9 (Posts: 230; Member since: 07 Feb 2010)


It'll mean overall better coverage,LTE Advanced,bigger portfolio of handsets and reasonable plans off contract as of 3/24/13. It'll still be TMobile.

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