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T-Mobile Completes MetroPCS Acquisition

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NEW YORK (AP) - T-Mobile USA, the country’s fourth-largest cellphone carrier, says it has completed its acquisition of MetroPCS.

T-Mobile, a subsidiary of Germany’s Deutsche Telekom AG, will gain its own U.S. stock listing by merging with Dallas-based MetroPCS Communications Inc.

The combined company will be called T-Mobile US Inc. and will start trading on the New York Stock Exchange Wednesday under the ticker symbol “TMUS.”

Under terms of the deal, MetroPCS shareholders are getting $4.08 per share in cash, or $1.5 billion. They’re also getting half a share of the new company for each MetroPCS share, resulting in a 26 percent ownership stake.

The rest will be owned by Deutsche Telekom.

The combined company will be based in Bellevue, Wash. and keep a significant presence in Richardson, Texas.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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