NEW YORK: T-Mobile USA announced plans yesterday to merge with US-based carrier MetroPCS in a cash and stock deal that gives T-Mobile’s parent Deutsche Telekom firm a 74 percent stake in the new company.
The deal takes two carriers struggling to keep up with the big three and creates “the leading value carrier in the US wireless marketplace,” a statement from the two firms said.
“We are extremely pleased to announce this transaction with MetroPCS, which enhances Deutsche Telekom’s position in the expanding US wireless market,” said Rene Obermann, chief executive of Deutsche Telekom.
“The T-Mobile and MetroPCS brands are a great strategic fit both operationally and culturally. The new company will be the value leader in wireless with the scale, spectrum and financial and other resources.”
Obermann said the deal creates “a sustainable and financially viable national challenger in the US.”
The new company will retain the T-Mobile name, and “will have the expanded scale, spectrum and financial resources to aggressively compete with the other national US wireless carriers,” the joint statement said.
The deal brings together T-Mobile’s 33 million subscribers, and the 9.3 million with MetroPCS, but the new firm will remain well behind US market leaders AT&T, Verizon Wireless and Sprint Nextel.
Significantly, it combines the spectrum holdings to give the new firm greater network coverage in deploying new high-speed networks for smartphones known as LTE.
The transaction is structured as a recapitalization, in which MetroPCS makes a cash payment of $ 1.5 billion to its shareholders and acquires all T-Mobile stock.
Deutsche Telekom will roll its inter-company loan into $ 15 billion in unsecured notes in the new company.
The German telecom giant will also provide a $ 500 million unsecured credit line and a $ 5.5 billion backstop commitment.
The combined company is expected to have some 42.5 million subscribers and $ 24.8 billion of revenue.
T-Mobile to merge with MetroPCS
T-Mobile to merge with MetroPCS
25,000 attend Social Development Bank’s DeveGO25 forum
The Social Development Bank concluded the second edition of the Entrepreneurship and Modern Business Practices Forum — DeveGo 2025 — announcing the achievement of high-impact outcomes that further reinforced the forum’s position as the largest national platform in the region dedicated to entrepreneurship, innovation, and freelance work in Saudi Arabia and beyond.
The forum witnessed broad participation from local and international experts, investors, entrepreneurs, and representatives of local, regional, and international institutions.
Over three days at the King Abdulaziz International Conference Center, the forum drew 25,000 participants and visitors, who benefited from over 45 specialized workshops and over 2500 advisory sessions delivered by more than 70 consultants and experts.
The sessions covered key areas including entrepreneurial planning, business models, venture capital, digital platforms, freelancing, and emerging technologies.
The forum also featured 20 panel discussions with leading local and international speakers, addressing major global trends in entrepreneurship, including the future of artificial intelligence, the creative economy, digital transformation, and venture investment.
The forum saw the launch of the Saudi Empretec Fellowship, in the presence of Rebeca Grynspan, secretary-general of the UN Conference on Trade and Development.
The partners in success within the Social Responsibility Portfolio supporting entrepreneurs were honored.
It also saw the honoring of 13 winners of the Handicrafts Competition, representing various regions of the Kingdom, the announcement of winners of the Salam Award for Promising Projects, and the recognition of leading entrepreneurial projects fund under the Enterprises Track.
In addition, the NEXT UP Challenge concluded on the third day of the forum with 20 startups presenting their projects to more than 500 investors, enhancing opportunities for networking and partnership building.
As part of efforts to strengthen the support ecosystem, the forum witnessed the signing of 51 agreements, along with the launch of a suite of new financing products. These included the Capital Expansion Product with a ceiling of up to SR10 million, the Payroll Product with a ceiling of SR2 million, and the Rental Product with a ceiling of SR1.5 million, aimed at supporting enterprises in asset development and covering operational costs.
This reflects the bank’s direction toward offering more specialized financing tools that respond effectively to market needs.
The forum concluded by reaffirming its role as a unifying national platform for entrepreneurship, where accompanying activities and events provided direct engagement opportunities between entrepreneurs, investors, and experts.
The forum also highlighted success stories and practical experiences that reflect the scale of entrepreneurial momentum in the Kingdom and the growing role of the Social Development Bank in supporting a national economy driven by innovation and knowledge.
