Skip to main content

T-Mobile & MetroPCS complete merger bringing iPhone availability to 9 million new customers

http://www.youtube.com/watch?feature=player_embedded&v=T1AYqBdhfo4

Update: Talking to AllThingsD, T-Mobile CEO John Legere says an iPhone on MetroPCS is a possibility but “not imminent.”

“The answer to that is not ‘No,’” Legere said, but added, “It’s not imminent; I think that’s safe to say.” “It’s also something that involves Apple…. we’ve started those dialogues with our partners.”

We already knew that both company’s boards had approved the merger of T-mobile USA and MetroPCS, but today the No. 4 and No. 5 U.S. carriers have officially announced the merger is now complete. Starting today the two companies will become one and begin trading under the ticker “TMUS” on the New York Stock Exchange:

Under the terms of the business combination agreement, MetroPCS effected a 1 for 2 reverse stock split, made a cash payment of $1.5 billion to its stockholders (approximately $4.05 per share prior to the reverse stock split), and acquired all of T-Mobile’s capital stock from Deutsche Telekom in exchange for approximately 74% of MetroPCS’ common stock on a pro forma basis.

MetroPCS has never offered the iPhone to its 9 million customers, but today’s announcement means the carrier will begin migrating to T-Mobile’s network infrastructure and presumably eventually support the iPhone alongside T-Mobile for its customer base. The new combined company will be lead by T-Mobile CEO John Legere, but for now T-Mobile and MetroPCS will continue to operate as separate brands.

FTC: We use income earning auto affiliate links. More.

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

Comments

Author

Avatar for Jordan Kahn Jordan Kahn

Jordan writes about all things Apple as Senior Editor of 9to5Mac, & contributes to 9to5Google, 9to5Toys, & Electrek.co. He also co-authors 9to5Mac’s Logic Pros series.