The MetroPCS(s pcs)-T-Mobile USA merger has cleared its final regulatory hurdle, leaving just MetroPCS shareholder approval standing in the way of completion.
That final piece of regulatory approval came from the Committee on Foreign Investment in the United States, which, according to a statement, told the two operators on Wednesday that “there are no unresolved national security concerns with respect to the transaction and that [the committee] has therefore concluded its review”.
The merger has already sailed through other regulatory pitstops, first the Justice Department then the FCC (without the commission even seeing the need to hold a vote). Some institutional MetroPCS shareholders oppose the deal, however, so it’s still not a sure thing – we will see the final outcome after a MetroPCS board meeting on April 12.
If the merger goes ahead, Deutsche Telekom will hold a 74 percent stake in the combined company. It is therefore unsurprising that incoming Deutsche Telekom CEO Timotheus Höttges would become chairman of the board, as MetroPCS revealed on Tuesday.