Deutsche Telekom, the parent company of T-Mobile, revealed earlier this month their plans to merge with fellow U.S. carrier MetroPCS. With the transaction yet to hit court approval, Deutsche Telekom has announced plans to complete the entire merge by the second quarter of 2013.
Deutsche Telekom’s Chief Financial Officer, Timotheus Hoettges, mentioned to German newspaper Boersenzeitung that their goal is to finish off the MetroPCS merger between April and June 2013.
On October 3rd news broke that Deutsche Telekom had plans to combine its U.S. carrier, T-Mobile, with competing crew MetroPCS. In a U.S. market that is largely populated by AT&T, Verizon, and Sprint customers, T-Mobile is trying to upgrade their share of the market. A merge with MetroPCS will tack on 10 million subscribers to T-Mobile USA’s current 34 million figures.
Alongside the merge completion estimate, Hoettges reiterated that Deutsche Telekom’s shareholders wouldn’t have to worry about their remuneration policy being affected by the merge. “Given profits brought forward of 1.6 billion euros and retained earnings of 15.5 billion euros there can be no doubt in our ability to pay a dividend,” said Hoettges.
Source: Reuters
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