MetroPCS Board To Hold T-Mobile USA Merger Vote On March 28th

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While March 14th may be a big day for Android and Samsung owners the world over, it’s March 28th that will have the attention of proponents and detractors of the MetroPCS/T-Mobile USA merger. The deal continues to receive regulatory scrutiny as it goes through the FCC and DOJ review process, but will also require the approval of MetroPCS shareholders. The deal has received some negative feedback from some MetroPCS’ shareholders, including hedge fund P. Schoenfeld and MetroPCS’ biggest shareholder Paulson & Co. Both funds have signaled they would vote against the merger given the unfavorable terms.

For its part, the MetroPCS board has continued to support the pending merger but has promised to “carefully review and consider” the complaints of their shareholders. The company continues to express that the deal is in the best interest of shareholders and stated the deal was:

“The result of a thorough process that began over two years ago and included the board and a special committee of the board considering a number of potential transactions with different strategic partners.”

The vote will take place in Richardson, Texas according to a Securities and Exchange Commissions filing made earlier today.

Marketwatch

 

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