T-Mobile has announced that the deal to acquire MetroPCS in the US has be finalized, the news comes less that a week after the deal was approved by the shareholders of MetroPCS, who will receive cash payments of $1.5 billion.
As previously announced, the Board of Directors of the combined company will have 11 members, including two directors of MetroPCS who will continue with the combined company. Tim Höttges, currently Deputy Chief Executive Officer and Chief Financial Officer of Deutsche Telekom, will serve as Chairman of the Board.
“By uniting T-Mobile and MetroPCS, we have created a dynamic new player in the wireless industry that has the right strategy and management team in place to compete successfully in today’s marketplace,” said Mr. Höttges. “We look forward to realizing the tremendous potential of the new T-Mobile.”
The deal was agreed by the two companies last October, and then went through the regulators, the shareholder approval was the final thing needed and the two companies have now merged.
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