Cleary Gottlieb is advising Deutsche Telekom on the antitrust and tax aspects of T-Mobile USA’s acquisition of MetroPCS. The combined company, which will retain T-Mobile’s name, will create the leading value carrier in the U.S. wireless marketplace. MetroPCS shareholders will receive $1.5 billion in cash and 26% ownership in the combined company. The transaction was announced on October 3 and is expected to close in the first half of 2013.
T-Mobile USA is the U.S. wireless operation of Deutsche Telekom AG. MetroPCS Communications is a provider of no annual contract, unlimited wireless communications service for a flat rate.