NEW YORK ( TheStreet) - Germany's Deutsche Telekom hopes to complete the merger of its T-Mobile USA business and MetroPCS ( PCS) before next summer. Reuters reports that Deutsche Telekom's CFO Timotheus Hoettges told German newspaper Boersenzeitung that the merger should be completed in the second quarter of 2013. The deal, announced nearly two weeks ago, will see MetroPCS buying T-Mobile's U.S. operation - the fourth largest cellular company in this country - in an effective 26%-74% reverse merger. The newly combined company should be better equipped to compete with larger rivals AT&T ( T)and Verizon ( VZ). It could also mean increased competition for the current number three cellular provider Sprint ( S), which announced a deal with Japan's Softbank early on Monday. The merger also gives Deutsche Telekom a big, liquid asset. Hoettges assured current Deutsche Telekom shareholders that the company's planned dividend will not be affected by the deal. Shareholders are still set to receive dividends of €0.7 (91 cents) per share for 2012. --Written by Gary Krakow in New York. >To submit a news tip, send an email to: firstname.lastname@example.org.
MetroPCS Communications (NYSE:PCS) hit a new 52-week high Thursday as it is currently trading at $16.62, above its previous 52-week high of $14.51 with 155,204 shares traded as of 9:31 a.m. ET. Average volume has been 10.6 million shares over the past 30 days.