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With a short press release last night, T-Mobile USA, Deutsche Telekom and MetroPCS announced the future Board of Directors for the combined company.
Deutsche Telekom AG (XETRA: DTE; “Deutsche Telekom”), T-Mobile USA, Inc. (“T-Mobile”) and MetroPCS Communications, Inc. (NYSE: PCS; “MetroPCS”) today announced the members of the board of directors of the combined company upon completion of the proposed combination of MetroPCS and T-Mobile. This impressive and diverse group of individuals has a wide variety of expertise, qualifications, attributes and skills, including corporate governance and board service, executive management, finance and accounting, private equity, operations, strategy, technology, investor relations, telecommunications industry experience, and public service.
While the deal still requires shareholder approval, the announcement is just another sign that both carriers are supremely confident Metro shareholders will give their blessing. All totaled, the board will have 11 directors with the majority coming from Deutsche Telekom. The board will include six members of Deutsche Telekom’s organization including outgoing CEO Rene Obermann, incoming CO Timotheus Hottges and current T-Mobile USA CEO John Legere.
The special meeting for MetroPCS shareholders is set for April 12th, with shareholders as of March 11th entitled to vote on the proposed combination. The deal is widely expected to close shortly after the April 12th meeting, regardless of dissident shareholders attempting to rally support against the deal.
Reuters via T-Mobile