August 27, 2014
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.
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