The board of directors of MetroPCS Communications Inc. (NYSE: PCS) has approved a merger with T-Mobile USA, a division of Deutsche Telekom AG, according to a report from Reuters. The report cites the Financial Times Deutschland as the source.
MetroPCS will receive $1.5 billion in cash and Deutsche Telekom will own 76% of the new company, which will be listed on an unnamed exchange.
For more, see T-Mobile Merger with MetroPCS Rolls Ahead.
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