FCC approves T-Mobile and MetroPCS merger deal

T-Mobile and MetroPCS have gained the approval of both the U.S. Department of Justice and the FCC for their proposed merger to form one company. Though both government agencies opposed T-Mobile's previous attempt to join forces with AT&T, the FCC has announced that it approves of the T-Mobile-MetroPCS partnership because it does not have the same hindrances to consumer choice and viable competition.

According to Bloomberg, FCC Chairman Julius Genachowski said in a statement, "The action will benefit American consumers as the U.S. mobile market continues to strengthen."

Having successfully gained the approval of two key government agencies with the power to block the deal, T-Mobile and MetroPCS must now appeal to a much tougher crowd - their stockholders. MetroPCS's largest shareholder has publicly opposed the deal, but the company's board has sent letters to try to convince its shareholders to vote in favor of merging with T-Mobile. Shareholders will vote to approve or bloke the deal next month.