Dearly beloved, we are gathered together in the sight of the FCC and these witnesses to join MetroPCS and T-Mobile in the bonds of holy mergrimony. If any shareholder can show just cause why they may not be joined together, let them speak now or forever shut the hell up.
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.
Whether this will be enough to break the looming duopoly stranglehold that Verizon and AT&T remains to beseen, but hey, it seems like T-Mobile's efforts caught Verizon's attention enough to offer device payment plans. That's a start.