FCC Approves T-Mobile/MetroPCS Acquisition
The Federal Communications Commission today approved T-Mobile's request to purchased MetroPCS in a reverse merger. After reviewing the applications by T-Mobile USA and MetroPCS, the FCC believes the merger will, overall, be good for consumers in the U.S. "We find that the transaction is not likely to result generally in competitive or other public interest harms," said the FCC in a statement. "In addition, to the extent there may be some possible competitive harms in selected geographic areas, we find that these possible competitive harms are outweighed by certain public interest benefits likely to result from the proposed transaction. Such benefits include the facilitation of Long Term Evolution deployment, the expansion of the MetroPCS brand into new geographical markets, the development of a more robust, national network, improved quality of service, and the strengthening of the fourth largest nationwide service provider's ability to compete in the mobile broadband services market." Separately, FCC chairman Julius Genachowski said, "With today's approval, America's mobile market continues to strengthen, moving toward robust competition and revitalized competitors. Today's action will benefit millions of American consumers and help the U.S maintain the global leadership in mobile it has regained in recent years." The Justice Department also recently green-lighted the deal, which now hinges on a MetroPCS shareholder vote.
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"reverse merger"?. . .
So is the MetroPCS name going to take over, and the T-Mobile name will cease to exist in the U.S.?
Who is taking whose name?
Think of it this way, MetroPCS is selling stock to DT ...
Yaye!!! Now go kill Sprint!!!
Does that mean
"A reverse merger is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. The ...