T-Mobile is reportedly preparing to close its acquisition of MetroPCS on Tuesday. The Associated Press said that the deal is expected to be finalized after the bell. The deal will provide T-Mobile USA with much needed spectrum as it continues to build out its brand new 4G LTE network, which is currently active in seven U.S. market.
T-Mobile currently has 34 million customers and will gain 9 million new subscribers from MetroPCS, the AP said. While the boost will no doubt T-Mobile help as it continues to compete with AT&T, Sprint and Verizon, it will still remain the fourth largest wireless carrier in the United States. The MetroPCS network will be shuttered over a period of 24 months as T-Mobile consumes the smaller carrier’s spectrum.
MetroPCS shareholders gave a nod of approval on April 24 after T-Mobile USA’s parent company Deutsche Telekom gave its best and final offer. The acquisition has already been approved by the FCC and the Department of Justice saw no reason to investigate it further.