MetroPCS and T-Mobile to Join Forces

On October 3, 2012, Richardson-based MetroPCS announced that it would join with T-Mobile, bringing its 9.3 million subscribers with T-Mobile's 33.2 million customer base. After the merger, Deutsche Telekom will own 74 percent of the combined company, while MetroPCS shareholders will own the remaining 26 percent. The new entity will be run by T-Mobile's CEO John Legere. The deal has been structured like a reverse stock split, where MetroPCS will absorb the Bellevue, Washington-based company, and its (MetroPCS') shareholders will get a cash payment of $1.5 billion, or about $4 per share.