(Updated: MetroPCS Reschedules Vote To April 24th) Deutsche Telekom Submits “Best And Final” Offer To MetroPCS Shareholders

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Update: A new MetroPCS press release just hit the wires announcing the company has decided to push back the date of the shareholder vote to April 24th. 

The decision to postpone the Special Meeting was mutually agreed upon by Deutsche Telekom and MetroPCS to allow MetroPCS stockholders additional time to, subject to approval by the MetroPCS board of directors, consider a proposal from Deutsche Telekom to revise the business combination agreement, dated October 3, 2012, among MetroPCS and Deutsche Telekom AG. 

As shareholder pressure continued to mount and facing a vote that continued to look like it wouldn’t swing in their favor, Deutsche Telekom improved its offer for MetroPCS.

In what DT is calling its “best and final offer” for MetroPCS, Deutsche Telekom will cut the loans that it will be owed by $3.8 billion, to $11.2 billion and lower the interest rate on the date. The Deutsche Telekom offer is said to “significantly increase the equity value of the combined company” the company wrote via email. The lock-up period during which DT is prohibited from selling public shares has been extended by 12 months to 18 months after the close of the deal.

“This lower rate reflects the new capital structure of the combined company, the improved capital markets environment in recent months, and the interest rate level of MetroPCS newly issued USD 3.5 billion of bonds priced in March,” Deutsche Telekom said.

Deutsche Telekom said other terms of the deal would stay the same and Friday’s vote would go ahead as scheduled. Deutsche Telekom did not increase the $1.5 billion cash offer and 26% stake in the combined company MetroPCS shareholders would have.

Stay tuned for updated quotes when available from MetroPCS shareholders.

Developing…

 

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  • http://twitter.com/munkyhed Piotr

    For the love of Meatwad, make the deal happen already and bring me LTE!

    • Deadeye37

      Don’t forget Master Shake and Frylock! If not for those 3, do it for Carl. Carl would also love a life size cutout of Carly.

      • Adam P

        Haha now I must go watch that show. And to think I almost didn’t come on TmoNews today.

    • Richard Yarrell

      It’s pretty comical how people on this site@jonathan3579 and this@MarcusDW really assume their thoughts and opinions are actually more important than others well it’s not same thing goes for Mr. David Beren the editor here on TmoNews. People come here to express their thoughts and feelings exactly what this whole experience is suppose to be about in the first place. Nobody on this site or anywhere will prevent me from expressing those thoughts on a daily basis.

      • squiddy20

        Newsflash dumbass, no one but you has ever implied that “their thoughts and opinions are actually more important than others”. You stated not even 2 days ago that the deal would go through, without any changes, on Friday. Not only has the deal been changed, it’s been pushed back. You were wrong on this just like how you were wrong on how you “knew” the S4 would have 3 GB of RAM, a flexible 1080p screen, wireless charging, and “a pad” on the device to measure blood pressure/blood glucose levels. Yeah, you’ reallllly “know” everything. Moron

      • http://tmonews.com David

        Richard, let’s be clear…I have EVERY right to modify, block, prevent and/or stop comments from appearing on the site. It’s a private site, therefore I can determine who posts what, where and when.

        First things first, you words were “bank on that” and you went around prancing about as if you knew beyond a shadow of a doubt that this deal would go through. Nevermind the complete lack of business acumen you showed while doing so. Here’s the thing Richard, I don’t know anything about engines, so I don’t go around talking about sparks, plugs, valves etc etc. Any responses people have regarding this topic are well deserved considering the arrogance you exhibited.

        More importantly, how many websites have banned your comments? It’s not a good thing when you are so well known industry wide as being the standing definition of a troll. I don’t think that makes any parent proud.

        If you want to continue to post here and spread your love for all things Samsung, do so without trolling otherwise I’ll ban you faster than you can say “I have absolutely no idea how the business world works.”

        • rangus

          If I could insert a sound of a whip cracking i would lol Reading this early morning smack down has been a great start for my day. I visit this site several times a day but rarely post. Thank you for all your hard work David!

        • http://tmonews.com David

          Ha thank you! If one person enjoyed the comment, mission accomplished!

      • just me

        Wha? I’ve never seen David try to stomp out other opinions here, that’s not very fair. The commentors are a different matter though, if someone disagrees with you they’ll sure let you know, lol. That’s the nature of commenting though, Unfortunately it’s not always respectful.

  • TechHog

    Something tells me even this won’t satisfy those greedy bastards

    • http://twitter.com/SParKlngCyaNide SparklingCyanide

      I hope you’re not right… = /

      • JB

        Ditto here. Because we all know they really wanted that extra money and a larger stake in the company…

    • bleeew

      They will complain in the future and regret that they didn’t go for the deal.

  • http://twitter.com/Joegar43 Jeremiah

    I thought this merger was going to happen. I am not sure
    Now.

  • Genecio

    Metro PCS shareholders need to take this offer and vote in favor of such. Think about the bigger picture, we need this. I want this. T-mobile although not perfect, they are making strides. 2013 is the year of Magenta.

    • http://twitter.com/SParKlngCyaNide SparklingCyanide

      I must say T-Mobile has been more incredible lately than they have been in the past 13 years, and I’ve still loved them even through the hard times.

  • TMoFan

    So reduced debt and DT is guaranteed to keep their shares for 18 months after which they can sell if they want? That’s the best metro is getting at this point. Now we have to wait another 2 weeks to wrap this thing up.

  • jonathan3579

    Where’s oh Dick Yarrell with his rhetoric that this deal absolutely will pass without DT sweetening the deal. Guess what Dick… You’ve been proven wrong – AGAIN!

    • http://tmonews.com David

      And now the meeting has been rescheduled, so wrong on all counts!

      • jonathan3579

        Sigh… I’m just now seeing the update. That’s unfortunate that this is dragging on this long. This merger is now starting to have a bad taste of that spoiled AT&T deal. (Except this is a legitimately beneficial transaction for Magenta.)

      • Dion Mac

        Question, isn’t this good for T-Mobile? The less debt NewCo has the better. Or would it only be better if the ownership of the company was bigger? I’m kinda lost right now :/

      • Richard Yarrell

        Being wrong means exactly what Mr. David exactly nothing. They did what they feel they had to do from a business standpoint. That was going to be regardless of what you thought or felt and the same for me. Expressing thoughts is what tmonews is all about and that is what I will always do rather being right or wrong their is no such thing. It’s all about opinion everyone will always have one when that changes then tmonews will never exist.

        • squiddy20

          Being wrong means… (suprise!) YOU”RE WRONG. You’ve been wrong about so many things, no one can ever possibly believe you. You “knew” the Evo 3D would be released June 4th and would be “Sprint’s flagship device well into 2012″ (despite it being EOL’d not even 2 months into the year).

          You “knew” the Galaxy Nexus was a “BOSS” phone and that Verizon would make it their flagship device (when has a Nexus EVER been a carrier’s flagship device?).

          You told me on several occasions that rooting was for “2plus year old devices” despite at the time owning an Evo 4G (which had a HUGE root community), When you had your Galaxy Nexus, you claimed for 2 whole months (2 WHOLE MONTHS) to be “looking into” rooting it, while there were/are TONS of 1 click root toolkits. Apparently that was utterly beyond you.

          Even after many sources were shoved in your grubby, ignorant face telling you the processor in the Evo 3D was the EXACT SAME as the one in the Sensation, you still went around claiming the one in your “legendary” Evo 3D was better. (The only difference between the 2 processors was wireless connectivity (GSM vs CDMA.) You have no clue.

    • MarcusDW

      I hate seeing his comments. Hated them when he was a Sprint/HTC fanboy.

      • jonathan3579

        You and me both. He’s got a cult following of haters because of his mouth and the stupidity that spews from it. It saddens me to see him posting on this site (and others) because out of all the sites I’ve followed, TmoNews being the longest, it ruins that happy feeling of news and leaks that I once had coming here.

        • http://tmonews.com David

          Well, that’s an issue that needs to be addressed then. I don’t want anyone having enough power to stop readings from coming back.

        • jonathan3579

          I don’t think anyone would object to that. I know he’s been banned from other sites for what I mentioned above and this is by far my favorite site for news since it directly pertains to my favorite carrier. I really appreciate that you do pay attention to what goes on and is said here, David. It makes me respect your dedication to this site that much more.

        • Richard Yarrell

          @jonathan3579..Talk about placing lips on a soft place. You do that pretty well. You’re making me laugh like David really needs someonekissing it

        • squiddy20

          1. You’re already replying to jonathan. The “@jonathan” crap isn’t necessary. This isn’t Twitter. (Not to mention the fact that, if you had done it right, it would show up as a clickable link to his profile, not regular text)

          2. WTF does any of what you said even MEAN? Try getting with the times in your pitiful sayings.

          3. I know for a FACT you were banned from Phandroid on 4 (yes four) separate occasions, Android Police once before they switched over to Disqus, Android Central a few years ago in it’s entirety and again a couple months ago from the forums. Ask Jerry Hildenbrand. Or better yet, just look at this for proof: http://forums.androidcentral.com/google-nexus-4/223610-list-all-163-t-mobile-hspa-42-markets-3.html#post2310418 After that, you made a reply which shows up in your profile, but not on that page because Jerry deleted it and then banned you. What a moron.

        • jonathan3579

          Richard, you need a timeout. The idiocy behind your replies is infectious.

        • Dion Mac

          THEN ADDRESS “WILL” !!!!

        • Dion Mac

          I even think him and Panther Lady have gotten into it.

        • Richard Yarrell

          You’re a pathetic joke seriously.

        • Dion Mac

          Wrong one playa. I wasn’t talking about you, it clearly says WILL(IN ALL CAPS). So don’t let ya fingers slip up and click Reply when it says Dion Mac above it and I mean that!

        • Richard Yarrell

          If readers stop reading here on tmonews it will be because David wants to express his thoughts as if that’s all that matters. Clearly the site is based on the users not the editor as he would like it to be based on.

        • squiddy20

          It’s too bad you don’t understand the privileges and responsibilities of being a moderator…
          Yes, this website (like many others) is “based on the users not the editor”. But if many users complain about 1 specific user (as is ALWAYS the case with you), it’s only logical to ban you so the others have peace. How sad that you don’t understand this (even after being banned from several other websites) or are too stupid/conceited to think you’ve done anything wrong…

        • jonathan3579

          David, as the editor here, has always clearly differentiated facts from opinion in his articles. Here’s the thing though, Dick, his opinions are LOGICAL and INFORMED unlike your own. Take some notes and think before you type. Maybe just maybe you’ll learn something and can write a half worthwhile response. (I actually don’t have any hope for that last part.)

      • Richard Yarrell

        MarcusDw and jonathan3579 you guys are a bunch of idiots talking on a site. Grow Up and get a legitimate life if that’s possible. What you feel and think of me could never be more than what i think and feel about you guys. Bunch of idiots and that’s being nice. I’m sure you know exactly what I really think of the both of you.

        • squiddy20

          Wow. You’re somewhere around 50 years old and yet here you are talking like a 7 year old fighting a losing battle with his mommy with empty threats and harsh words. How mature of you.

    • Dion Mac

      I think “Will” is worse, with his “Come on T-Mobile, let me out of my contract. I don’t want to be your slave. Your revil and need to be destroyed!” ok… the last part I added but still… he said that in so many words… and SAID IT EVERY POST!!! He must be at a Hate T-Mobile Convention!

    • Richard Yarrell

      Mr. Yarrell is right here as usual @jonathan3579. You must be some special kind of fool on this site. Oh well nothing new here.

      • squiddy20

        1. Why the hell are you referring to yourself in the 3rd person? You know that’s the #1 sign that you need mental help, right?
        2. You weren’t right. You were dead wrong (as usual). You said the deal would go through, without any changes, on Friday. Not only has the deal been changed, the date has been pushed back. Congratulations on f*cking yourself over.

        • jonathan3579

          I don’t think he realized he was still signed in from that account because he’s got several dummy accounts he replies from and boosts his own stats.

        • guidomus_maximus

          LOL! Caught!
          How sick are you that you respond to your own troll posts with fake IDs?
          How dumb are you that you mess it up and get caught?
          Answer to both: Richard Yarrell

      • jonathan3579

        Did you not realize you were still signed into your main account? I’ve noticed you have dummy accounts.

      • http://twitter.com/Joegar43 Jeremiah

        That’s the hustlerman. Aka Richard Yarrell.

  • Nearmsp

    This is turning out like the Yahoo take over and sulking Jerry Yang who refused to sell it for the best deal and the stock went downhill from there on.

  • Aurizen

    WTF!! a delay!!! UGH! I hope they come to a decission before then.

  • nogoodnamesleft90210

    After witnessing the arrogance and indifference that John Legere has demonstrated to his employees (and ex-employees) in the past month, having the deal fall through would be nothing short of karma.

    • MaseW

      So Legere gets his comeuppance…but he keeps his job, and those employees are still laid off…but the customers of T-Mobile and MetroPCS, don’t get to enjoy the advantages that the combined company would bring?

      Sounds legit…

    • Adrayven

      Meh? So shotgun effect hurt everyone because someone had to make some job cuts. No one likes job cuts but sometimes they are necessary. T-Mobile has the lowest rates of the big four it’s got to come from somewhere.

      • Dion Mac

        Ive stated this many times. The other three will let go of thousands in one session. 300 at HQ… not so bad!

    • Fraydog

      Legere has little to do with this. These decisions are being made in Bonn. As far as the job reductions, those are the breaks when T-Mobile has been failing for the most part to gain customers.

  • SouthernBlackNerd

    If this is the best offer they will give Metro shareholders, then I expect we will see Dish make an offer quite soon. They have 10 billion for a major acquisition to get into the wireless game.

    • Dion Mac

      Do you think they would like to purchase Metro though? Such a small footprint with limited spectrum resources.

      • bleeew

        You have to start somewhere right?

        • Dion Mac

          Maybe a few 5 or so years ago. Or if they were to do a IMVO. But the US cant have another major player. The market is already too saturated and its too hard to steal customers away.

      • SouthernBlackNerd

        Dish probably does not believe they will ever reach profitability if they have to pay the actual money to build out their spectrum, so their plan is to buy one of the key pieces of either Sprint or Tmobile to force them to build their network on their terms,which is to pay in capacity instead of cash. Sprint needs Clearwire just as Tmobile needs Metro.

        We know that Metro’s shareholders are not happy with the current DT deal, and I doubt decreasing the debt by 3.2 billion will be enough to sway them. This would be the ideal time to throw out an offer.

        • bleeew

          How do you know so much? Your a genius when it comes to spectrum stuff.

    • TechHog

      So, you think this deal probably doesn’t stand a chance now?

  • LOV3BAS3DCUBANO

    This deal needs to go through, metro knows they can’t survive without T-Mobile

  • ChitChatCat

    Hmmm. Since iphone sales figures being public shouldn’t hurt either.

  • Dion Mac

    So I wonder how the shareholders feel about the top management. I mean, clearly they thought it was a good enough deal for the shareholders or they wouldn’t have agreed to a contract where if they backed out they would have to pony up some money.

    I wonder if the deal doesn’t go thru, will Metro shareholders seek a new CEO or do they even have the option to seek another one… questions questions…

    • http://about.me/daylondeon Deacon

      Metro PCS is shat anyway .. it’s the “ghetto” wireless service .. at least that’s the perception .. i hope the shareholders crash and burn if this deal doesn’t go through .. would serve them right .. i mean i hate to promote people losing jobs etc but enough is enough with these stupid mergers.

  • superg05

    people are over looking the fact that t-mobile just became a direct competition with MetroPCS so if they don’t except the merger they’ll have to compete with T-mobile in the market but that was likely part of the plan metro only has 10 megahertz of spectrum in every market stretched between 3 services if things go as I think there planned metro might feel the hurt in some large markets

  • guest911

    Dislike

    Pass it already!

    NewCo will be very profitable, so that debit will not be issued.

  • kev2684

    another delay? urghh.