T-Mobile USA, the subsidiary of Deutsche Telekom AG (FRA:DTE) (PINK:DTEGY) (ETR:DTE) announced its partnership with Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) and will start selling the Lumia 521 smartphone exclusively in May.
The Lumia 521 smartphone is perfect for everyday use and it is offered at an affordable price. The device is powered by the Windows Phone 8 operating system and is integrated with high-end features including a highly sensitive 4-inch touch screen, 5 mega-pixel camera with auto focus and 720 p HD video recording.
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The Lumia 521 also comes with various applications from Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) such as the Nokia Music, Cinemagraph, Creative Studio, Panorama. Smart Shoot, HERE Drive, Maps and Transit.
According to T-Mobile USA, the Lumia 521 will run on its 4G nationwide network and it will be available through Wal-Mart Stores, Inc. (NYSE:WMT) Microsoft Corporation (NASDAQ:MSFT)’s retail stores and through its own T-Mobile retail channels. The telecommunications carrier said it would announce the exact pricing and availability date of the device at a later time.
CNET speculated that the price of the Nokia Lumia 521 would be around $185 without a contract. The technology site emphasized that consumers need to wait for the actual pricing from T-Mobile USA. Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) previously announced that the other version of the smartphone – the Lumia 520 (unlocked) would sell for €139 ($212) without a contract.
Last week, Deutsche Telekom AG (FRA:DTE) (PINK:DTEGY) (ETR:DTE) said it is considering proposing a sweeter deal for the merger of T-Mobile USA and Microsoft Corporation (NASDAQ:MSFT). Its current proposal is to acquire the shares of MetroPCS Communications Inc (NYSE:PCS) for $4.06 per share and shareholders a 26 percent stake in the combined company.
John Paulson’s hedge fund and other shareholders are opposing the transaction. The merger already received regulatory approvals. According to John Legere, CEO of T-Mobile USA, the merger will be completed despite the opposition of “greedy hedge funds that are trying to take a double dip out of that process.”
Paulson emphasized that the current reverse merger structure of the deal is beneficial for T-Mobile, but not for the best interest of MetroPCS Communications Inc (NYSE:PCS) shareholders. According to him, the equity split is unfair because MetroPCS will contribute 42 percent but its shareholders will only get 26 percent in the combined company while Deutsche Telekom will own 74 percent.
The combined company will also shoulder a huge amount of debt of approximately $23.2 billion including a $15 billion inter-company note held by Deutsche Telekom AG (FRA:DTE) (PINK:DTEGY) (ETR:DTE).