The Bellevue company, which boasts 43 million customers, will trade under the new ticker symbol TMUS.
“The combination of T-Mobile and MetroPCS creates an even stronger disruptive force in the U.S. wireless market,” said T-Mobile CEO John Legere in a statement. “Together, as America’s Un-carrier, we’ll continue our legacy of marketplace innovation by tearing up the old playbook and rewriting the rules of wireless to benefit consumers.”
“Un-carrier” is the term that T-Mobile is using to describe its new pricing structure, one that the company hopes will shake up the industry by ending device subsidies.
T-Mobile will continue to be based in Bellevue, operated by Legere. Former MetroPCS Vice Chairman and Chief Financial Officer, J. Braxton Carter, will serve as CFO. It will retain a large workforce in Richardson, Texas, the former HQ of MetroPCS.
MetroPCS shareholders approved the deal, which gives them $1.5 billion and a 26 percent stake in the new entity, last week. The combined company would have had $24.8 billion in revenue last year.
“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 Deutsche Telekom’s Tim Höttges, who will serve as chairman of the company.
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