T-Mobile, Metro PCS Complete Merger
AT&T's previous effort to buy T-Mobile was scuttled by the feds
Deutsche Telekom and T-Mobile announced on Wednesday the completion of T-Mobile USA's merger with MetroPCS Communications, creating an entity with roughly 43 million subscribers across the United States and making Apple's iPhone available to an additional 9 million customers.
The last obstacles to creating the new entity — known as T-Mobile US and trading on the New York Stock Exchange under the symbol TMUS — were cleared in late April, when MetroPCS' shareholders approved the merger following an improved offer from Deutsche Telekom. The deal saw MetroPCS effecting a 1 for 2 reverse stock split and paying its shareholders $1.5 billion, or roughly $4.05 per share.