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Yesterday both Deutsche Telekom and MetroPCS confirmed that they were in talks to merge MetroPCS and T-Mobile, and while both companies made sure to say that there was no certainty that an actual deal would result from the discussions, it looks like the two companies didn't run into any issues. The Wall Street Journal is reporting that the board from both Deutsche Telekom and MetroPCS have approved a deal between the two firms. 

When it comes to the specifics of the deal, a source speaking to the WSJ claims that the combined T-Mobile and MetroPCS will be known as "T-Mobile" (so much for T-Metro and metroMobile) and will be run by new T-Mobile CEO John Legere. It's said that deal is being put together as a sort of reverse merger, meaning that MetroPCS will essentially be taking over T-Mobile. Deutsche Telekom and its shareholders will own around 75 percent of the combined T-Mobile-MetroPCS and will keep around $15 billion in debt, while MetroPCS shareholders will receive $1.5 billion in cash.

Rumblings of a merger between T-Mobile and MetroPCS have existed for a while now, but it appears that the two companies have finally pulled the trigger on an agreement. We're still waiting on confirmation of the deal from Deutsche Telekom and MetroPCS themselves, which will hopefully offer up plenty of details on the move. It's also worth noting that, although both boards may have green lit the agreement, a merger still needs to be approved by the regulatory bodies before it's complete. More details as we get 'em.

UPDATE: That didn't take long at all. Shortly after reports came out claiming that Deutsche Telekom and MetroPCS had reached a deal involving T-Mobile, an official announcement has been made confirming the news. According to the release that was just issued, the combination of T-Mobile and MetroPCS will "will deliver an enhanced customer experience through a wider selection of affordable products and services, deeper network coverage and a clear-cut technology path to one common LTE network."

The entity formed by the combination of T-Mobile and MetroPCS will be known as T-Mobile. Current T-Mobile CEO John Legere will be the new company's President and CEO, while MetroPCS CFO J. Braxton Carter will serve as CFO. It's also worth noting that although the two carriers will be combining, the release says that T-Mobile and MetroPCS will be run as two different customer units, with T-Mo COO Jim Ailing and MetroPCS COO Thomas Keys heading the units up.

As we noted previously, this agreement is still subject to approval from the usual regulatory bodies as well as MetroPCS shareholders. The deal is expected to close in the first half of 2013. You can find a video of T-Mobile CEO John Legere talking about the merger below.

Via @WSJ, Wall Street Journal, T-Mobile press release

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"T-Mobile and MetroPCS are merging. What do you think?"

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Alan Muñoz
Alan Muñoz you guys are retarded saying why does it matter lol do research before you open your mouths ignorant dogs
Danny Perez
Danny Perez Two crappy services. What's going to be different.
takehull Sprint needs to kill off Cricket and be done with it. They could use the spectrum.
Dagenis Denny Fernandez
Dagenis Denny Fernandez WTF!? NOOOOO!!!
Anthony Bailey
Anthony Bailey Meh... Tmo will still be #4 amongst the 'Big 4' U.S. carriers and not any real improvement. At any rate, good luck.
Larry Waters
Larry Waters Yea, and the FCC had no problem with Verizon acquiring all the spectrum Comcast had to sell....but at&t is the evil one?
William Trimble Jr.
William Trimble Jr. I think after 10 years first with Voice Stream to T-mobile it's time to leave and go to Verizon! Haven't been impressed with latest line of high end hand sets anyway.
Orlando Hernandez
Orlando Hernandez I have to see it to believe it
Elvis Guay
Elvis Guay @dipilla you have no clue on what you speak
David DiPilla
David DiPilla Verizon is number one then at@t then sprint then t-mobile metro is like 8 I think lol both terrible services made for each other lol
David DiPilla
David DiPilla Means a bad name for t-mobile lol t-mobile already sucks now their getting a carrier worst then them lol
Willie Lucero
Willie Lucero They shouldve joined with sprint, both have cdma and LTE (metro is only about as fast as wimax though lol) and it couldve also helped boost mobile and virgin mobile
Rodger Samiie Myers
Rodger Samiie Myers I dont get it...correct me if im wrong but metro is cdma...even if they have 4G LTE i doubt its good or even wide enough to make a formidable battle on the larger market scale...i think this is tmobiles way to snuff out a pre-paid competitor
Eric J. Powers
Eric J. Powers 2 junk companies become 1 junk company
Samuel Gonzalez Jr.
Samuel Gonzalez Jr. In excited to see what comes from this! :-)
Randy B Hoopes
Randy B Hoopes Why?
Joernie Berrios
Joernie Berrios That sucks!
Tony Abiama
Tony Abiama Should have been with Sprint
Lennes Shaw
Lennes Shaw as far as the cdma/gsm stuff phones are capable of either or, i have a htc evo design on sprint and it also have a sim slot
Luis Valentin-Zeno
Luis Valentin-Zeno I want the technical details of this merger... Plans for cdma?
Zach Chapman
Zach Chapman Couldn't care less!
Justin Plecko
Justin Plecko I don't care what they do as long as they don't over charge for their services like Verizon & AT&T. They all provide the same server, unless you live in the boonies, so I will go with whoever rips me off less.
Susan Phillips
Susan Phillips I think maybe at last that Metro will get better data reception, any would be better than what they have in some areas....like Shreveport.
Alan Holmes
Alan Holmes I think you will see CDMA fall away. T-mob will use Metro Towers to add better coverage. LTE has already started to roll out on Metro which will turn into T-mob LTE. I think the bandwidth currently used by their CDMA will be converted over to LTE. Competition is good for the entire market. I'm on AT&T and love their coverage hopefully this will make them lower their prices overtime.
Kevin Bealmear
Kevin Bealmear I thought metro pcs was cdma
Rick Blake
Rick Blake There must be a tech change here, Metro is cdma, TMO is gsm. LTE is not a problem. Or will TMO/Metro try to straddle the fence and be all things to all phones? Or maybe spectrum swaps? Either way, this looks like a good deal. Both have good prepaid businesses, both are surviving on less coverage than VZW, both push data speed. Win.
Miguel Placencia
Miguel Placencia ATT and Tmobile was a no go cause those were basically the biggest GSM providers .. take one out of the equations because it was bought out, monopoly.. that's all I will say about that
Marrion Bell
Marrion Bell @Nick Melnick at&trash sucks donkey's balls
Nadim Uddin
Nadim Uddin Disappointed that Sprint did not buy/merge with Metro
Anthony Choclate Rain Baker
Anthony Choclate Rain Baker I knew somebody would snatch up Metro- knew it!
Marrion Bell
Marrion Bell @Daniel Joseph Marquez first off T-Mobile is America's second best to verizon and all others are the rest
Elohssa Cousins
Elohssa Cousins Who cares I have att!
Weylin Skjöld
Weylin Skjöld That great cause maybe they will get better coverge and better connections
James Warren
James Warren Metro PCS customers are about to get SCREWED!
Shannon Rae Beauford
Shannon Rae Beauford Does this mean better wireless coverage?
Mark Schroeder
Mark Schroeder I wonder how tmobile is going to handle the spectrum sharing deal metro has with cricket. That might limit them from changing much of metros existing towers
Abram Wenevermet Dennis
Abram Wenevermet Dennis I think they'll put sprint out of business.
Ross TheBoss Rosetsky
Ross TheBoss Rosetsky tmobile will be the biggest and baddest wireless carrier in all of the usa!
Ross TheBoss Rosetsky
Ross TheBoss Rosetsky metro is just as good at tmobile i got tmobile and it think it will be the best... it was bad for tmobile to merge with att cause att sucks... GO TMOBILE!
Nick Melnick
Nick Melnick Martin, you went with T-Mobile because they were merging with AT&T? Meanwhile, tons of Tmo subscribers were ready to leave. Maybe you should have, I don't know, just gone with AT&T?
Daniel Quintero
Daniel Quintero looks like they got them for their lte.............they should sell their cdma to sprint
Keith Windiddy
Keith Windiddy very good
Martin Cota
Martin Cota I will believe it when I see it. I am still mad that the merger with ATT went bust, as that is the reason I switched to T-Mo in the first place
Angel Higuera
Angel Higuera So now I can get a GSIII on metro?
Hansel Starley
Hansel Starley What?
Darling Hdez
Darling Hdez metro customers will benefit more
Brandon Edward Glenn
Brandon Edward Glenn T-Mobile will get the LTE they sorely need
Brent Showtime
Brent Showtime so what will they be called now? The Geto? , Met-T? , Mobilemet? ???
Matt Cain
Matt Cain So, this is ok, but merging with AT&T wasn't?
Daniel Savedbygrace Marquez
Daniel Savedbygrace Marquez They should merge their both garbage..
Juan B. Based
Juan B. Based I don't know what to think
Michael Franzone
Michael Franzone should be sprint and metro

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