MetroPCS made a brief announcement yesterday on their website that the Department of Justice had requested more information “in connection with MetroPCS’ proposed transaction with T-Mobile USA, Inc.” This second request for information will extend the regulatory review period by an extra 30 days, but MetroPCS, T-Mobile USA and Deutsche Telekom all plan to comply with the order and send the requested information.
The proposed transaction is subject to MetroPCS shareholder approval, regulatory approvals and other “customary closing conditions.” MetroPCS says on their website they still expect the deal to close in the first half of 2013. A small number of MetroPCS shareholders have filed suit hoping to block the merger alleging company executives did not work to get the best possible deal for shareholders.
MetroPCS intends to cooperate fully with the DOJ to obtain approval of the transaction as soon as possible and remains confident that the DOJ will find that the transaction is both pro-competitive and pro-consumer. Completion of the transaction is subject to MetroPCS shareholder approval, regulatory approvals and other customary closing conditions. MetroPCS continues to expect the transaction will close in the first half of 2013.