It’s official. After passing all necessary regulatory approvals last month, T-Mobile and MetroPCS have officially completed their merger. The Deutsche Telekom-owned carrier made an announcement on the company blog this morning.
The deal, which has been in the works since last fall, combines the United States’ fourth and fifth largest wireless carriers, which combine for a total of 43 million subscribers. The new entity is now trading on Wall Street under TMUS…
From today’s press release:
“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 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.”
The merger should prove particularly fruitful for Apple, who essentially just gained 9 million new potential iPhone customers overnight. T-Mobile began offering the popular smartphone last month under a new, no-contract payment model.
John Legere remains the carrier’s CEO, and MetroPCS’ vice chairman and CFO, J. Braxton Carter, will serve as the CFO. And Wall Street seems to approve of the team, as the stock was trading up 6% this morning, following the announcement.
T-Mobile has been making some serious moves in recent months. In addition to this merger, it’s also launched its LTE network, snagged the iPhone, and unveiled new unlimited plans. It’ll be interesting to see how all of this pays off for them.