The U.S. Federal Communications Commission approved T-Mobile USA’s merger with MetroPCS Communications Inc. (NYSE: PCS) on March 12.

The deal, announced in October, is structured as a recapitalization, with MetroPCS declaring a reverse stock split, making a $1.5 billion cash payment to its shareholders, and acquiring all of T-Mobile’s stock by issuing T-Mobile’s parent, Deutsche Telekom (XETRA: DET) 74 percent of MetroPCS’ common stock.

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