Banks May Split $50 Million Advising on T-Mobile-MetroPCS Merger

Banks advising on Deutsche Telekom AG’s merger of its T-Mobile USA Inc. unit with MetroPCS Communications Inc. may earn at least $50 million if the deal goes through, according to research firm Freeman & Co.

First in line are Morgan Stanley and JPMorgan Chase & Co., lead advisers to Deutsche Telekom and MetroPCS, respectively. The amount they’ll split with other banks, which may range from $50 million to $80 million, is at least 36 percent less than the $125 million advisers would have gotten if AT&T Inc.’s $39 billion bid for T-Mobile last year had succeeded, according to New York-based Freeman.