CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information

Local

T-Mobile To Merge With MetroPCS

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

625x352 thrill eng preview T Mobile To Merge With MetroPCSWin A Trip To Disneyland!

82641739 10 T Mobile To Merge With MetroPCSHottest Sunbathers Of The Summer

jennifer lopez 770 T Mobile To Merge With MetroPCSJennifer Lopez's Bathtub Selfie

 alt=The New Wonder Woman

 alt=Musicians Then And Now

Fantasy_tile

VOTE: Best Coaches In American Sports

BERLIN (AP) - The parent company of T-Mobile USA says it is merging its cell phone business with MetroPCS Communications.

Deutsche Telekom AG says its board of directors and the supervisory board have approved the merger Wednesday. It says the board of MetroPCS has also accepted the deal.

It says Deutsche Telekom will hold 74 percent of the new business. MetroPCS’s shareholders will have the remaining stake and receive a payment of about $1.5 billion.

The companies confirmed they were in talks Tuesday. Analysts said the deal could shore up two struggling players in the U.S. wireless industry.

The combination with Dallas-based MetroPCS, which has 9.3 million subscribers, still leaves T-Mobile USA — the country’s fourth-largest cellphone company with 33.2 million subscribers — trailing the market’s No. 3, Sprint Nextel Corp.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out: