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News Summary: T-Mobile, MetroPCS unite

Wednesday - 10/3/2012, 6:08pm  ET

By The Associated Press

(AP) - 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.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)