It's now official. The T-Mobile and MetroPCS merger has leaped over all of its industry regulations hurdles and was approved by its shareholders. The merger is now all done except for the paperwork. Here's a quote with the details,
It's good to see that some consolidation can actual benefit the mobile industry as a whole. This deal can help T-Mo become more competitive with the big Gorillas in the room, AT&T & Verizon. Whether it will make a difference is something only future history can determine.Today, MetroPCS shareholders approved the merger between the company and T-Mobile USA. As a result of the deal, Deutsche Telekom will own a 74% stake in the new company, while the former MetroPCS shareholders will own 26%. The new company will be called T-Mobile US and, for the first time, be traded publicly on the NYSE under the name TMUS.
The merger will bring MetroPCS's 9 million customers (Q1 2013) together with T-Mobile's 34 million (Q1 2013) for a total of 43 million. This is still behind Sprint's 55 million (end of 2012), but it does close the gap considerably. It also positions T-Mobile to lead the contract-free market over the next couple years as its customers' contracts expire and they transition to the new no-contract plans.