T-Mobile CEO: “Greedy Hedge Funds” Won’t Stop MetroPCS Merger

john-legere

T-Mobile’s CEO honest approach to the industry knows no bounds as he goes after the set of hedge funds hoping to block the MetroPCS/T-Mobile merger. When asked yesterday about the prospects of the deal closing in light of vocal opposition by Paulson & Co, along with P. Schoenfeld Asset Management:

“It will be approved,” he said, “despite the greedy hedge funds that are trying to take a double-dip out of that process.”

Paulson, the largest MetroPCS shareholder along with PSAM argue that the deal will allow for too much combined debt. There’s concern that the hedge funds vocal discussion about debt has already persuaded some shareholders to vote against the deal or lead to Deutsche Telekom placing a higher bid.

“I get what they are doing,” Legere said. “If you are an investor, and it’s before the vote, you are rattling your saber around to get more money.”

Legere’s clearly showing in the last 24 hours that his fresh talk has no bounds as he all but completely calls out “greedy shareholders” just “trying to get more money.” Hey, we can’t say we blame the guy, but what has us even more interested is just how many other industry happenings Legere will speak out about. I’m just loving hearing his filter-less approach and wondering if T-Mobile’s PR team isn’t scratching their heads in response.

Bloomberg

 

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  • pholocity

    as is our HR department LOL

  • Spooln3

    I promise you its not scratching they are doing with their heads. I’m sure Advil’s stock has risen since John took over due to all the headaches he prolly causes our HR team. :) I personally love it.

  • sidekicker89

    David, do you really think he doesn’t like you? Why? Because you leak upcoming things about T-Mobile to us? I wouldn’t hate you for that! :D

    • AndroidProfit

      It’s simple. Employees leaking things should be shit canned. Whistle blowers are one thing but leaking stuff to TMobile news is grounds for getting canned and rightfully so.

      With that being said it wouldn’t surprise me if they are playing David and only, “leaking” what they want.

      • http://twitter.com/MrNateOrtiz Nathan Ortiz

        Sites like this have a dual nature. Yes they leak confidential information before official timelines, but they give you the type of promotion that money cant buy.

        In regards to the “playing”, it usually becomes pretty apparent in short order when someone is a corporate mouthpiece. I don’t necessarily see this in this site.

        • http://tmonews.com David

          Agreed…and I’m nobody’s mouthpiece. If T-Mobile was “playing” me, I’m pretty sure I would have invited to this event, instead I watched from the sidelines.

        • Matt

          Oh, you most certainly are my friend. I don’t know if “playing” you is the right word, but they most certainly use you for the free publicity and leak material to you on purpose. Thinking anything other than that shows your naivete.

  • http://twitter.com/fightcrazy Vinny

    Mr Legere is a breath of fresh air in a business full of bull shit talking reps. I like a guy who speaks his mind without a filter. Look what T-Mobile has accomplished in a very short time. T-Mobile has thrown tons of $$$ at their Network, have their LTE up and running, refreshed their plans and prices, refarmed their 1900 MHz. They have every new device on it’s way including the long awaited iphone. This time next year T-Mobile will not be the # 4 US Carrier, they will be # 2 or 3. I am so happy for T-Mobile, glad I stuck it out when many were jumping to other Carriers. Thank You T-Mobile.

    • iansltx

      Definitely not going to be #2; that would require tripling its size, and there are too many people who want/need coverage outside what T-Mobile can provide to switch from AT&T or Verizon.

      As for #3, let’s see a quarter where T-Mobile doesn’t lose subscribers first. Heck, let’s see a quarter where they gain a million subscribers, not including an influx of former metroPCS subs.

      EDIT: To be clear, I’m not dissing T-Mobile’s un-carrier methods. I just think that “we’ll be #3 soon” is more bluster than reality, considering that the top four wireless companies have not shifted (other than AT&T and Verizon alternating between the top two) since before the Sprint-Nextel merger (though at the time Verizon and Cingular were battling for first and second…Cingular hadn’t been rebranded yet).

  • pholocity

    it’s friggin hilarious when he calls you out specifically on his press conferences LOL i swear this site is unofficially run by TMO

    • Julian C. Taborda

      What did legere say? Haha I know he called him out but I can’t seem to find a video anywhere

      • Edward Not From Twilight

        Here’s a quote:

        “I got up this morning and I have to tell you, there’s just some things
        that are driving me crazy, even today as you all have pre-reported. By
        the way, for those of you with ADD, if you want to see what I’m going to
        be talking about in 5 minutes, TMo News is on the phone with an
        employee right now breaking my chart two charts from now. David, he’s
        not here today, but he’ll be sneaking from the employees in the back and
        posting online. So you can all take the high ground. You can just
        change your story to, “As reported in TMo News.”

        Full quote: http://www.geekwire.com/2013/tmobile-ceo-john-legere-wireless-industry-broken-press-stop-playing/

      • pholocity

        he just said if you want to know 2-3 slides ahead of this presentation just go to tmonews etc. LOL

  • Clarkkent113

    This guys is very refreshing. I know this is obviously part marketing but even if it is self-serving marketing, it’s not like what anything he’s said so far isn’t true.

    His motives may not be completely pure, but the message is correct and I hope it continues.

  • galaxydude

    I am happy i came back to T-Mobile about 4 months ago. Their prices are the best in the business and their hspa+ network is the fastest non lte lte network out there

  • UMA_Fan

    Any chance there is a video of the event out there?

    • http://tmonews.com David

      Believe me, I’m looking for it and I haven’t found it.

  • Richard Yarrell

    Keeping it real is priceless in any walk of life generally. But in the business world it’s even more refreshing to deal with honesty without the many faces that exist. Mr. Legere is definitely different from the typical stuff shirt CEO that exist on Verizon and At@t.

  • http://www.youtube.com/#/mrjlwilliams J. Williams

    Love this guy, he keeps it real.

  • https://www.facebook.com/michael.t.delgado Michael D

    self I see it’s been brought up already.

  • Jon

    Breaking NEWS!!! Greedy rich guys are busy being greedy rich guys and want more money. I never saw this coming…….