T-Mobile USA Set To Merge With MetroPCS

Struggling cellphone companies T-Mobile USA and MetroPCS Communications are set to merge, in a deal that will create an operator with more than 40 million subscribers.

In a joint statement, the two companies said Wednesday that Deutsche Telekom AG, the owner of T-Mobile USA, will hold 74 percent of the new business, while MetroPCS’s shareholders will hold the remainder, as well as receiving a payment of about $1.5 billion.

— NPR