T-Mobile USA and MetroPCS have announced a joint merger as “the leading value carrier in the U.S. wireless marketplace," the deal has seen MetroPCS pay $1.5 billion for T-Mobile capital.

The new company will be jointly owned by MetroPCS with 26 percent of shares and Deutsche Telekom with 74 percent.

The merger will increase network coverage of the company and increase its presence in the wireless provider market.

MetroPCS chairman Roger Linquist, said: “"Ultimately, this combination will create a stronger wireless provider nationally with broader value offerings to better serve our combined customers and drive shareholder value".