After months of waiting and even a slightly “sweetened” deal, T-Mobile and Metro PCS are finally one. The deal was initially announced last October (2012) and faced a few hurdles along the way, like some slightly un-pleased investors, who in the end got what they wanted. But it was clear sailing after the FCC granted its approval back in March. The newly formed company will begin trading on the Stock Exchange today as “TMUS.”
Regarding the newly formed company, T-Mobile’s outspoken CEO John Legere said, “The combination of T-Mobile and MetroPCS creates an even stronger disruptive force in the U.S. wireless market. Together, as America’s Un-carrier, we’ll continue our legacy of marketplace innovation by tearing up the old playbook and rewriting the rules of wireless to benefit consumers.”
As part of new deal, T-Mobile will take a 74% controlling stake in Metro PCS and Metro stockholders received a buyout of $4.06 a share (totaling about $1.5 billion).