T-Mobile and MetroPCS Reverse Merger Approved, Takes Place May 1

This morning, the reverse merger (little company buys big company) between T-Mobile and MetroPCS was made official. In a final vote made by shareholders, the effects of this deal are set to take place on May 1, resulting in a cash payout to MetroPCS shareholders of $1.5 billion. This deal, heavily sought after by T-Mobile, is just another check on their long list of vast improvements they have made in 2013. 

Their network is starting to become more powerful, they now carry the two most popular smartphones of the year and have also introduced brand new no-contract plans, which could mean more success is headed their way. René Obermann, CEO of Deutsche Telekom Group, had this to say on the news:

We have accomplished a lot in the USA recently, for example our network modernization and the new T-Mobile USA management team, which has seen considerable success. And we have finalized the contracts with Apple and MetroPCS. The merger with MetroPCS is extremely important, since it enables us to be more aggressive in the USA.

We are still awaiting details for what subscribers on both carriers can expect to see, but it will most likely be made quite apparent once May 1 rolls around.

Via: Telekom