Exactly two weeks ago, Deutsche Telekom presented MetroPCS shareholders with a new “sweetened” deal that they hoped would convince the folks to vote to approve the merger. The original deal would have loaded MetroPCS with enough debt to scare off any shareholders still sitting on the fence. That extra debt would have weakened the value of shareholder equity, something that any self respecting financier would throw in the trash. Deutsche Telekom’s new deal lessened that burden which, in effect, gave the shareholders’ existing equity even more value.

With that, the vote ended up being rescheduled for today, and it looks like all of the ballots have been punched. The result? Say hello to a new mega marriage in the United States cellular market — T-Mobile and MetroPCS are now one in the same. Under the deal, Deutsche Telekom now owns 74% of the new company. T-Mobile stands to gain some 9 million customers, as well as a whole heap of significant spectrum that it will certainly need for the future of its 4G and voice networks.

As with most of these transactions it would appear that MetroPCS will continue operating as a separate entity in the public eye for the time being. Still, we’re sure the two are brewing up an elaborate plan that will roll more subscribers (and, in turn, cash) into T-Mobile’s coffers over the coming months and years. With no real worry of federal and regulatory hurdles holding these two back from holy matrimony it sounds like the books on this one could be closed as early as summer.

[via Bloomberg]