updated 09:24 am EDT, Wed May 1, 2013
Final merger confirmed one week after MetroPCS shareholder vote
T-Mobile USA and MetroPCS have now completed their merger, and are now one company. The formation of the new entity, known as T-Mobile US and trading on the New York Stock Exchange under the ticker symbol TMUS, comes one week after MetroPCS shareholders voted to approve the merger after some improvements, a process which started in October last year.
The new combined carrier has approximately 43 million subscribers, with around 9 million being carried over from MetroPCS, which makes it the fourth largest carrier in the United States, and based on the financial results of 2012, would have around $24.8 billion in revenues and $2.7 billion of free cash flow.
Despite being one company, the two brands will continue to be run separately for the moment, with MetroPCS customers slowly being migrated over to the T-Mobile network by 2015, so that the spectrum used on the MetroPCS CDMA network can be repurposed for the T-Mobile LTE network. The combined coverage of current 4G networks is around 228 million people, while 200 million are expected to have 4G LTE by the end of this year. The spectrum of the two companies will apparently allow for at least 20+20MHz of 4G LTE in 90 percent of the top 25 metropolitan areas from 2014, if all goes according to plan.
Chairman of the board Tim Höttges, current deputy CEO and CFO of Deutsche Telekom, claims the united company is "a dynamic new player in the wireless industry," adding "We look forward to realizing the tremendous potential of the new T-Mobile." Höttges is joined on the board by another 10 members, including two from MetroPCS.