John Legere, CEO of T-Mobile US—the...
John Legere, CEO of T-Mobile US -- the combined carrier that emerged from Tuesday’s combination of T-Mobile USA and MetroPCS -- helped ring the opening bell at the New York Stock Exchange Wednesday to mark the combined carriers’ first day…
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trading on the exchange under the ticker TMUS. T-Mobile USA had not traded as a separate entity because it was a wholly-owned subsidiary of Deutsche Telekom, which owns 74 percent of the combined carrier. The carriers that now form T-Mobile US had a combined 43 million subscribers at the end of Q1, with spectrum holdings that “provides a path to at least 20X20 MHz of 4G LTE in approximately 90 percent of the top 25 metro areas in 2014 and beyond,” T-Mobile US said. It said the combined T-Mobile US is headquartered in Bellevue, Wash., and will maintain a “significant presence” in Richardson, Texas, where MetroPCS had been based. Standard and Poor’s said it believes the combined carrier’s operations are at “good scale but still well behind” No. 1 U.S. carrier Verizon Wireless and No. 2 AT&T, and to a “lesser extent” No. 3 Sprint Nextel. The combined carriers’ subscriber base is comprised of 50 percent contract customers, 34 percent no-contract customers and 16 percent wholesale, S&P said. The carrier will continue to “remain disadvantaged” against the larger carriers in competing for the most data-intensive customers and will have a comparatively larger rate of customer turnover, S&P said. T-Mobile US stock closed up 6.2 percent Wednesday at $16.52.