Back in October, it was announced that T-Mobile would be acquiring regional carrier MetroPCS, but the deal isn't final just yet. It obviously has to pass through several government barriers before it can officially happen. However, there's one less hurdle to jump now, as the Department of Justice has given the merger the green light.
Now that the Department of Justice is out of the way, the acquisition deal now needs to make its way through the Federal Communications Commission (FCC), the Committee on Foreign Investment, and MetroPCS shareholders, who are scheduled to vote on the merger on April 12, as previously reported a couple days ago.
MetroPCS is obviously encouraging shareholders to vote yes, and they say that voting for the merger has the same effect as voting against it. T-Mobile says that if shareholders vote against the merger, "there is no assurance that MetroPCS will be able to deliver the same or better stockholder value."
Executive boards at both carriers have already approved the merger, and T-Mobile aims to migrate all MetroPCS customers over to T-Mobile's system by 2015. T-Mobile is the US's 4th-largest carrier, with MetroPCS being the 5th largest. While the merger may not put T-Mobile in third place, it certainly give the carrier quite a boost that it's been wanting.