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FCC approves MetroPCS' purchase of T-Mobile

Posted: , 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


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

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