Boards Approve T-Mobile-MetroPCS Deal [REPORT]

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The boards of T-Mobile's parent company and MetroPCS Communications have approved a proposal that would merge the two companies, according to a report.

The Wall Street Journal cited "people familiar with the situation" in the report. The article also stated that the new entity would operate under the T-Mobile name and be run by John Legere, T-Mobile's CEO. If U.S. regulators approve the deal, the fourth- and fifth-largest U.S. telecoms would merge, giving Deutsche Telekom's T-Mobile a surer foothold in the U.S. market.

Such a merger would come after U.S. federal regulators shot down AT&T's proposed $39 billion takeover of T-Mobile last year. The Federal Communications Commission reasoned that such a merger would limit competition in the U.S. telecom industry.