Business
Business

T-Mobile USA to merge with MetroPCS

Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
+0.03%
7558.59
+2.21
-0.09%
20444.36
-17.90
Europe markets
Europe markets % change Value
Change
-0.62%
552.95
-3.43
-0.08%
5344.93
-4.09
-0.22%
12210.55
-26.62
-0.14%
3372.94
-4.62
-0.11%
9417.30
-10.10
US markets
US markets % change Value
Change
+0.19%
25606.53
+47.80
-0.27%
7785.79
-20.73
+0.09%
2843.17
+2.48
Asia markets
Asia markets % change Value
Change
+0.75%
37947.88
+284.32
+0.42%
27213.41
+113.35
+0.35%
22270.38
+78.34
As of 18:07 17 Aug 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
-0.17%
€1.1157
-0.0020
GBP against Yen
-0.34%
¥140.4850
-0.4800
GBP against USD
+0.15%
$1.2731
+0.0020
USD
% change One $ buys
Change
USD against Euro
-0.31%
€0.8764
-0.0030
USD against GBP
-0.13%
£0.7856
-0.0010
USD against Yen
-0.46%
¥110.3850
-0.5150
Euro
% change One € buys
Change
Euro against GBP
+0.17%
£0.8963
+0.0010
Euro against Yen
-0.17%
¥125.9150
-0.2200
Euro against USD
+0.32%
$1.1413
+0.0040
Yen
% change One ¥ buys
Change
Yen against Euro
+0.17%
€0.0080
0.0000
Yen against GBP
+0.34%
£0.0070
0.0000
Yen against USD
+0.47%
$0.0090
0.0000
As of 18:07 17 Aug 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.35%
71.68
+0.25
WTI Crude Oil Futures
+0.34%
65.68
+0.22
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
0.00%
1179.65
0.00
Gold (Forex Index pm fix)
-0.14%
1180.40
-1.60
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+1.29%
2.95
+0.04
As of 18:07 17 Aug 2018

Deutsche Telekom has confirmed it is to merge its T-Mobile USA unit with the US mobile carrier MetroPCS.

In addition to a $1.5bn (£931m) cash payment to MetroPCS shareholders, the German giant will take a 74% stake in the new firm, which will keep the T-Mobile name.

The merged firm will be the fourth-largest US mobile carrier with 42.5 million subscribers.

MetroPCS shares fell 6%, after surging 18% on Tuesday on news of merger talks.

In December, US telecoms giant AT&T had to end its $39bn (£24bn) bid to buy T-Mobile USA, having run into fierce objections from the government.

'Strategic fit'

"The T-Mobile and MetroPCS brands are a great strategic fit - both operationally and culturally," said Rene Obermann, chief executive of Deutsche Telekom.

"The new company will be the value leader in wireless with the scale, spectrum and financial and other resources to expand its geographic coverage, broaden choice among all types of customers and continue to innovate, especially around the next-generation LTE network."

If AT&T had bought T-Mobile USA from Deutsche Telekom, it would have become the largest US mobile company.

The US Justice Department moved to block the merger in August 2011, saying it would reduce competition and lead to higher prices.

T-Mobile USA is currently fourth-largest mobile carrier, and has more than 33 million customers.

MetroPCS has grown quickly since its launch in 2002, particularly on the east and west coasts. It was the first to introduce the 4G LTE service in the US.

The combined firm will be about 10 million customers behind the third-biggest firm, Sprint.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites