iBankCoin
Joined Nov 11, 2007
31,929 Blog Posts

The FCC Approves T-Mobile Metro PCS Merger

Deutsche Telekom AG (DTE)’s proposal to combine its T-Mobile USA unit with smallerMetroPCS Communications Inc. (PCS) won approval from U.S. competition and telecommunications authorities.

Allowing the fourth- and fifth-largest U.S. wireless carriers to combine will benefit American consumers as the mobile market continues to strengthen, Federal Communications Commission Chairman Julius Genachowski said in an e-mailed statement yesterday. Benefits include more high-speed wireless service, the agency said in an order.

The combination is unlikely to harm consumers, and may help T-Mobile become a stronger competitor, the Justice Department said in an e-mailed news release announcing it had closed its investigation into the deal.

“The FCC’s approval marks another significant milestone in bringing our two companies together,” John Legere, president of T-Mobile, said in an e-mailed statement. “We look forward to completing the transaction.”

The proposed combination needs approval of shareholders who are to meet on April 12, according to the statement. It urged shareholders to throw out white proxy cards distributed by “a dissident stockholder” and vote for the deal. Failure to vote has the same effect as voting against the combination, according to the statement.

Company Debt…”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter