German telecommunications company Deutsche Telekom AG (DTE.XE)
Wednesday said it applauds the decision of MetroPCS Communications
Inc.'s (PCS) shareholders to agree with the combination of MetroPCS
and T-Mobile USA.
MAIN FACTS:
-The transaction is expected to close by May 1, 2013 and the new
company will be consolidated into the Deutsche Telekom group on the
same date.
-As part of the transaction, MetroPCS shareholders (status as of
March 11, 2013) will receive an advanced cash payment of
approximately 1.5 billion dollars from their company.
-This will be followed by a reverse stock split of the MetroPCS
shares before the company is merged with T-Mobile USA.
-Following the closing of the transaction, the shareholders of
(the former) MetroPCS will receive 26% of the shares of the new
company, while Deutsche Telekom will hold 74% of the merged
company.
-The company will trade under the legal name T-Mobile US and
will be listed on the New York Stock Exchange under the symbol
TMUS.
-"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," said Rene Obermann, CEO of
Deutsche Telekom Group.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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