T-Mobile and MetroPCS merger is on track for approval from all necessary parties, however it seems as if one of the nastier side effects has also happened. The layoffs. While this is not necessarily the best of news, it is coming as expected. T-Mobile actually confirmed earlier in the month that the layoffs would be happening. So far these layoffs have been from the Bellevue headquarters.
rumor back in October of last year and as of today we have seen approval after approval. In fact, the merger has been granted approval from the Department of Justice, the FCC and the Committee on Foreign Investment. Basically, that means they have received all the necessary regulatory approvals.
T-Mobile and MetroPCS received the FCC approval back on March 12 which meant that the necessary approvals for a merger were almost complete. Basically, once the FCC offered their approval we still needed word from the Committee on Foreign Investment. Well, approval from the Committee on Foreign Investment as well as the MetroPCS stockholders. As of today however, MetroPCS has offered a bit of a status update.
T-Mobile and MetroPCS. This news comes in follow-up to the thumbs up that we recently saw coming from the Department of Justice (DOJ) and ahead of the shareholder vote. MetroPCS has a shareholder meeting schooled for April 12 and have already pushed for approval noting that if the stockholders were to vote against, they could make “no assurance that MetroPCS will be able to deliver the same or better stockholder value.”
T-Mobile and MetroPCS acquisition first came to light back in October and it was just yesterday when we learned the Department of Justice had given their approval. There is more to the approval process though. We still need word from the Federal Communications Commision (FCC) and Committee on Foreign Investment. Putting that aside for a moment -- we now have word of potential layoffs.
back in October 2012. Of course, planning to join forces and actually being able to do so are two different things. You know, with all those government approvals and such. Well, as of today that process is one step closer to becoming a reality as they have received approval from the Department of Justice (DOJ).
today announced their intent to become one. The merger will see both companies keep the T-Mobile name going forward. The transaction was unanimously approved by MetroPCS and T-Mobile's board members.
T-Mobile USA, Deutsche Telekom, have confirmed that they are indeed looking to buyout and merge MetroPCS with T-Mobile here in the USA. Earlier we heard a few rumors of a possible buyout, but it has now been confirmed that the two companies are engaged in talks regarding a potential acquisition and merger.