News Summary: T-Mobile, MetroPCS unite

News Summary : T-Mobile USA, MetroPCS to merge cellphone businesses

Associated Press
T-Mobile, MetroPCS unite to battle larger rivals
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FILE-In this Wednesday, Sept. 12, 2012, file photo man using a cellphone passes a T-Mobile store, Wednesday, Sept. 12, 2012 in New York. 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, Oct. 3, 2012, 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. (AP Photo/Mark Lennihan, File)

CONNECTED: T-Mobile and MetroPCS have agreed to combine their struggling cellphone businesses in a deal aimed at letting them compete better with their three larger rivals.

LONG-DISTANCE: Deutsche Telekom will hold a 74 percent stake in the combined company. MetroPCS shareholders will own the rest.

HOW MANY BARS?: The combined company will stay No. 4 among U.S. wireless carriers behind Verizon Wireless, AT&T and Sprint Nextel.

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