MetroPCS shareholders finally approve T-Mobile merger
If you’ve been following MetroPCS and T-Mobile’s plans, you’ll know that for a while things didn’t look good for the merger. Despite FCC and T-Mobile stock holder approval, the deal ran into some heavy opposition from MetroPCS stockholders. Under pressure to make the deal work, T-Mobile’s parent company Deutsche Telekom finally revised the terms of the deal to ensure there would be less combined company debt. With the sweetened offer in place, today MetroPCS finally voted in favor of the merger.
Under the deal, T-Mobile’s Deutsche Telekom will receive a 74 percent stake in the new company, and MetroPCS shareholders will see a $1.5 billion cash payment.
Once complete, the merger means that T-Mobile will have nine million new prepaid customers, though it is possible that at least some of these customers might consider a change in carrier once the deal is completed. Beyond the new customers, the deal also opens up wireless spectrum owned by MetroPCS that T-Mobile can use to expand its LTE network.
While that should be the last major hiccup on the road to merging, it is still unclear whether or not the merger will fully conclude as originally planed in the middle of 2013 or if the deal won’t be complete under later into the year.
What we do know is that T-Mobile has been making a pretty big splash with its “uncarrier” movement as of late, and with the added benefit of both new customers and expanded spectrum, hopefully they can continue to move towards improving its services and snagging new customers.
For those of you that are MetroPCS or T-Mobile customers currently, what do you think of the new merger?