Metro PCS Agrees to T-Mobile Takeover

A spokesman says shareholders of MetroPCS Communications Inc, have agreed to a takeover by T-Mobile USA, according to the Associated Press.

T-Mobile, the fourth-leading cellphone carrier in the United States, made a previous offer to Metro PCS, however shareholders thought the deal to be lacking. It seems the new offer by T-Mobile has put the shareholders at ease.

A Metro PCS shareholders meeting was held Wednesday morning in Richardson, Texas to vote on the new offer from T-Mobile.

When T-Mobile brings in Metro PCS, the combined company will be worth $16 billion and provide service to approximately 43 million devices. With the two companies combined forces, they will be able to provide better service to their customers. For example consumers will experience faster download speeds for their phones.

Metro PCS shareholders will retain 26 percent of the combined company. Deutsche Telekom AG, the German-based Parent Company of T-Mobile will hold the rest of the shares.

The move from T-Mobile comes on the heels of its new marketing campaign for the company’s decision to do away with two-year contracts.

At a launch for the company’s new business plan in March, Chief Executive John Legere, labeled T-Moblie the “uncarrier.”

“Do you have any idea what you’re paying,”Legere said at the launch. “I’m going to explain how stupid we all are because once it becomes flat and transparent, there’s nowhere to hide. You pay so much for your phones, it’s incredible.”

The company now offers service no-contract service with its cheapest plan at $50 a month. Unlimited data is available at $70 per month.

The cell phone carrier recently started selling the iPhone 5 for $99 down. However, the customer must pay $20 per month till the phone is paid off. They always have the option of paying full price for the phone. This policy is true for other phones as well.

If the customer decides to leave the company at any time, they must also pay the remaining balance on the price of the phone.