It's official: T-Mobile closes deal to acquire MetroPCS

T-Mobile has been slowly inching closer to closing its acquisition deal with MetroPCS, and the day for inking that contract is finally here. Less than a week after MetroPCS shareholders approved the merger, which would give them a total cash payment of $1.5 billion, the deal is done. In addition to giving Deutsche Telekom a 74 percent stake in the new company, the deal will bring nine million new prepaid customers to T-Mobile. According to the Uncarrier's President and CEO, the network would "continue our legacy of marketplace innovation by tearing up the old playbook and rewriting the rules of wireless to benefit consumers." T-Mobile plans to keep the MetroPCS brand, holding on to its retail outlets too, pitching to different demographics with the two carriers, according to AllThingsD. MetroPCS broke the news to its customers first through Facebook, although Big Magenta followed swiftly with the official press release -- you'll find that right after the break.

Filed under: Cellphones, Wireless, Mobile, T-Mobile

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Source: MetroPCS (Facebook), T-Mobile

Source: http://www.engadget.com/2013/05/01/t-mobile-metro-pcs-deal-final/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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