Not long after an FCC approval, a planned shareholder vote, and a revised deal on T-Mobiles front, MetroPCS shareholders have voted to approve the reverse merger between T-Mobile and MetroPCS. In the so-called “reverse merger,” the significantly smaller company, MetroPCS, will be buying into the networking giant, T-Mobile.
T-Mobile is just a daughter company of Deutsche Telekom, and René Obermann, the CEO of Deutsche Telekom, says this is a fundamental step in the company’s plans to go forward as it “enables the company to be more aggressive in the USA.”
If you look below, you will see a transcript of the statement provided to the press from FCC Chairman Julius Genachowski, on the T-Mobile and MetroPCS merge.
With today’s approval, America’s mobile market continues to strengthen, moving toward robust competition and revitalized competitors. We are seeing billions more in network investment, while the courts have upheld key FCC decisions to accelerate broadband build-out, promote competition, and benefit consumers, including our broadband data roaming and pole attachment rules. Today’s action will benefit millions of American consumers and help the U.S maintain the global leadership in mobile it has regained in recent years.
Mobile broadband is a key engine of economic growth, with U.S. annual wireless capital investment up 40% over the last four years, the largest increase in the world, and few sectors having more potential to create jobs. In this fast-moving space, of course challenges remain, including the need to unleash even more spectrum for mobile broadband and continuing to promote competition and protect consumers. The Commission will stay focused on these vital goals.
T-Mobile have been working on new monthly tariffs, in addition to continuously providing network improvements throughout the world — therefore it makes perfect sense that the company is working hard to improve their competitive position in not just the United States, but throughout the whole world.
The huge deal to merge the two carriers is scheduled to be signed, sealed and delivered on May 1, 2013. MetroPCS shareholders will recieve a $1.5 billion bonus in advance, and will receive 26% of the shares of the newly merged company, shortly after the deal is signed.
We are currently unaware if the changes that subscribers on both sides of this deal will see, as they are still yet to be determined.
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