T-Mobile Set To Close Acquisition Of Dallas-Based MetroPCS
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NEW YORK (CBSDFW.COM/AP) – T-Mobile, the country’s fourth-largest cellphone carrier, is set to complete its acquisition of Dallas-based MetroPCS after the stock market closes on Tuesday.
With some 34 million subscribers, T-Mobile USA is the country’s fourth-largest cellphone company. While the acquisition will add nine million MetroPCS customers, the combined company will still lag No. 3 Sprint Nextel Corp. in size.
No immediate changes are expected for MetroPCS customers, but T-Mobile USA plans to shut down MetroPCS’s network over two years, which means MetroPCS phones will eventually stop working. T-Mobile will use the space freed up on the airwaves to boost its own coverage and data speeds.
T-Mobile USA, a subsidiary of Germany’s Deutsche Telekom AG, will gain its own U.S. stock listing by merging with MetroPCS Communications Inc., which is listed on the New York Stock Exchange.
(©2013 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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