At last, the T-Mobile/MetroPCS marriage is officially complete. After seeing a few signs that the merger was closer to being finalized, Deutsche Telekom AG and T-Mobile US, Inc. announced the newly-formed T-Mobile USA entity— which officially began public trading under the NYSE ticker TMUS as of today. With the new company fully established, Deutsche Telekom AG will effectively hold a majority stake in the company (at 74%), while the combined subscriber base grows to over 40 million. Additionally, the completed merger also expands the total 4G footprint as 228 million are currently served with 4G, with an additional 200 million expected to be covered with 4G LTE by the end of 2013.
You’ll find more details once you hit the break and check out the full presser.
T-Mobile and MetroPCS Combination Complete-Wireless Revolution Just Beginning
T-Mobile US to Ring NYSE Opening Bell as Trading Begins Today Under Ticker “TMUS”
BONN, Germany & BELLEVUE, Wash.–(BUSINESS WIRE)–May. 1, 2013– Deutsche Telekom AG (XETRA: DTE; “Deutsche Telekom”) and T-Mobile US, Inc. today announced the completion of the combination of T-Mobile USA, Inc. and MetroPCS Communications, Inc., uniting two wireless innovators with one common vision: to bring wireless consumers exciting new choices while delivering an exceptional experience. The combined company, T-Mobile US, Inc., will begin trading on the New York Stock Exchange today under the ticker “TMUS.”
“The combination of T-Mobile and MetroPCS creates an even stronger disruptive force in the U.S. wireless market,” said John Legere, President & Chief Executive Officer of T-Mobile US, Inc. “Together, as America’s Un-carrier, we’ll continue our legacy of marketplace innovation by tearing up the old playbook and rewriting the rules of wireless to benefit consumers.”As previously announced, the Board of Directors of the combined company will have 11 members, including two directors of MetroPCS who will continue with the combined company. Tim Höttges, currently Deputy Chief
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