Deutsche Telekom and MetroPCS agreed to merge their operations in the United States, leading to an impairment charge of at least 7 billion euros ($9 billion) for Telekom in a move that might allow the company to exit the U.S. wireless market. Deutsche Telekom will hold 74 percent and MetroPCS 26 percent in the combined entity, Deutsche Telekom said in a statement on Wednesday, confirming a report from German paper Financial Times Deutschland.The plan comes less than a year after U.S. antitrust regulators quashed Telekom's plan to sell T-Mobile USA, the fourth-largest U.S. mobile service provider, to AT&T Inc, the second-largest, for $39 billion.Once Telekom's strongest growth engine, T-Mobile USA has been losing customers to bigger and smaller rivals in recent years, partly because it is not authorized to sell the Apple iPhone.
AT&T Inc. (AT&T) is a holding company. AT&T is a provider of telecommunications services in the United States and worldwide. Shares of T remained unchanged at $37.81. In the past year, the shares have traded as low as $27.41 and as high as $38.58. On average, 24731200 shares of T exchange hands on a given day and today's volume is recorded at 680897.
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