CellularOne and M3 Wireless today announced that they have agreed to merge their wireless businesses.The amalgamation of two of Bermuda's three cell phone service providers will create a company with approximately a half share of the market, according to the companies.The new entity will operate under the CellularOne name and will be run by the existing CellularOne executive team. Existing customers of the two companies will keep their phone numbers.In a joint statement, the companies said there would be little impact on jobs.“CellularOne and M3 Wireless are very sensitive to employment concerns and announced that there will be no significant job cuts as part of the merger,” the statement read.“The companies have taken steps to ensure that nearly every current employee will be retained in their current job or offered a new position. Over the next several weeks CellularOne and M3 Wireless will communicate closely with every employee, with other stakeholders, and with customers to ensure a smooth transition for everyone involved.”The new CellularOne will be more than 50 percent owned by Bermudian shareholders, according to the statement.KeyTech Ltd, the parent company of M3 Wireless, and Atlantic Tele-Network, the US-based parent company of CellularOne, will together own about 80 percent of the new company.For KeyTech, the change means it will no longer actively manage a wireless business, but it does not represent an exit from the wireless business. KeyTech views the merger as a way to enhance its competitive position in the wireless marketplace.“We are creating a stronger and more capable single wireless company out of two very complementary businesses,” said Kurt Eve, CEO of CellularOne. “This merger will be very good for wireless consumers in Bermuda. We are going to use our combined strengths in the marketplace to deliver new products, greater coverage, better service and more options for our customers.”“In looking at each other and the marketplace, we recognized that we could be in a more competitive position and deliver greater value for our customers as a combined business,” commented Sheila Lines, CEO of M3