Reuters: Technology News: T-Mobile US shares rise in New York Stock Exchange debut

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T-Mobile US shares rise in New York Stock Exchange debut May 1st 2013, 14:41 Tweet Share this Email Print Related News SoftBank slams Dish's Sprint bid, rules out sweeteners Tue, Apr 30 2013 Exclusive: Verizon eyes roughly $100 billion bid for Vodafone's wireless stake Thu, Apr 25 2013 MetroPCS shareholders approve merger with T-Mobile USA Wed, Apr 24 2013 UPDATE 3-MetroPCS shareholders approve merger with T-Mobile USA Wed, Apr 24 2013 Sprint posts narrower loss, weak subscriber numbers Wed, Apr 24 2013 Analysis & Opinion MetroPCS owners can forget a standalone option Related Topics Tech » Hot Stocks » Asian Markets » Signage for a T-Mobile store is pictured in downtown Los Angeles, California August 31, 2011. Credit: Reuters/Fred Prouser NEW YORK | Wed May 1, 2013 10:41am EDT NEW YORK (Reuters) - T-Mobile US Inc (TMUS.N) shares rose 3 percent in their debut on the New York Stock Exchange on Wednesday, after the company was created by the merger of MetroPCS Communications and Deutsche Telekom AG's (DTEGn.DE) U.S. unit T-Mobile USA. Shares of the new company opened at $16.38 and had risen to $16.89 after 10 a.m. (1400 GMT), according to a company representative who was at the New York Stock Exchange. MetroPCS and T-Mobile USA, whose combined 2012 revenue was $24.8 billion, merged to pool their spectrum resources to compete better with bigger rivals. "It's a good debut," said Hudson Square Research analyst Todd Rethmeier. "They both had good first-quarter results, so we think there's more room for upside." T-Mobile US, the fourth-largest U.S. mobile phone service provider, said it ended the first quarter with about 43 million customers. This compares with 55 million for third-ranked Sprint Nextel Corp (S.N). MetroPCS shareholders voted in favor of the deal on April 24 after Deutsche Telekom, under pressure from activist investors, sweetened the terms. Under the deal Germany's Deutsche Telekom owns 74 percent of T-Mobile US. MetroPCS shareholders received $4.06 per share in cash plus 26 percent of the combined company. (Reporting by Sinead Carew; Editing by Lisa Von Ahn) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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