Largest MetroPCS Investor Reverses Tune, Comes Out In Support Of T-Mobile Merger

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Paulson & Co., MetroPCS’ largest shareholder and the loudest voice of opposition against the T-Mobile deal has changed their tune after the revised terms issued by Deutsche Telekom late yesterday afternoon.

“While Paulson needs to review the revised proxy statement before making a final decision, Paulson intends to vote for the merger as restructured,” the firm, founded by billionaire John Paulson, said today in a statement.

Deutsche Telekom issued their “best and final offer” by cutting the amount of debt the combined company would acquire by $3.8 billion. DT also lowered the interest rate it plans to charge on the loan by half a percentage point. “This improved offer underlines Deutsche Telekom’s commitment to establishing a new, stronger competitor in the U.S. mobile communications market,” the company said.

Jonathan Chaplin, analyst with New Street Research LLP in New York said the company would be in a better position under the new deal to make network investments and acquire more spectrum. “This puts the new company under less pressure and gives them more strategic flexibility,” said Chaplin.

As for questions surrounding Deutsche Telekom’s long-term commitment to the new company, spokesman Philipp Kornstaedt said the German telecommunications giant has an “enduring commitment” to the US market.

The second loudest opposition voice, P. Schoenfeld Asset Management said in a brief statement that it welcomed the move by DT and would review the new terms.

“PSAM is pleased that Deutsche Telekom — in response to strong opposition to the deal from shareholders — has taken steps to improve the terms,” the firm said.

Analysts agree that the new terms of the deal should be enough to push shareholders into agreement that this is now a better deal for them rather than remaining independent.

Bloomberg

 

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  • superg05

    nice

  • Richard Yarrell

    Reverse tune time. Just as expected. Business is business.

    • http://tmonews.com David

      Just as expected?!?!?!?!?!! You didn’t say that at all, you said the deal would gone tomorrow as it was originally structured. Business is business? On three separate TmoNews avenues of engagement you wrote the deal would close tomorrow, now you predicted this? I did need a good laugh today, thanks!

      • JustSaying

        rawrrrr ;)

        • thepanttherlady

          Heyyyyyy, that’s MY line! :)

        • Zacamandapio

          Nope.
          Your is meeeeeooowwww.

          You’re a lady!!

        • thepanttherlady

          I go from meeeeeoooowwwww to rawwwrrrrr in less than 60 seconds. LOL

          BTW…I’m taking my Z10 back. No me gusto. :(

        • Dion Mac

          LOL, why?

        • thepanttherlady

          Why do I go from meow to rawr or why am I returning my Z10?

        • Dion Mac

          Why are you returning your Z10?

        • thepanttherlady

          I just don’t like it.

          1. 1st device randomly rebooted several times a day. Got it replaced yesterday and so far seems to be fine in that regard.

          2. Battery life sucks. I’ve gone from a pretty hardcore user to, I’m afraid if I do too much my battery will die.

          3. Certain websites I use don’t function the same way on this phone. Boo!

          4. Lack of apps isn’t a major issue for me but it is for some. They’re not releasing like I thought they would.

          5. I don’t care for the message hub. Instead of having 1 thread that contains multiple emails (like comments made on this site), I now wake up to 40+ individual emails that get read and deleted. One. at. a. time. :/

          6. Scrolling is horrible. The page goes blank or dark while you’re trying to scroll so you have to wait for it to reappear to continue.

          7. Sometimes trying to type things (comments here for instance) is near impossible. I’m typing away but nothing is showing up. I wait for the phone to catch up only to see one word out of a complete sentence is there. rawwwwwr!!!!! Seems to take forever to be able to correct it to the point that I’ve just given up and waited until I was at a computer.

          8. I REALLY dislike the camera. That was one feature I was totally looking forward to. I’m into doing my own manicures and have gotten into painting my nails and doing nail art. With my S3 and Note 2, I could take decent pics of the finished product. This one? Don’t get me started. *mean face* The auto focus SUCKS!

          9. And most important reason of all: since David’s post about the Sony Xperia Z, I can’t think of any phone I’d rather have. Want to know how bad I want it (in purple, please)? I SWORE I would never buy a phone that didn’t offer me an SD slot. I’m taking the Z10 back at the beginning of May (already told the sales rep, LOL) and getting a Nexus 4 from the Play Store until the Xperia Z arrives. Seriously considering buying the int’l version if that doesn’t happen. I know, someone check my temperature!!!

          :)

        • Dion Mac

          You sure that’s all that’s wrong with it? Lol. Raaaawr! Lol

        • thepanttherlady

          You didn’t think that post was long enough? Hahaha!

        • JB

          Gosh makes me glad I didn’t get one! Have you ever considered asking David if you could write a review or two. Sure, those were all negative points but it was written. Just sayin.

        • Zacamandapio

          Yes. I’ve read about these issues before.
          But mine works fine, the typing is great, the web browsing (flash) works like a charm, media and photos I like.
          The only thing is that like you, coming from a Note 2 the battery will be an issue.
          :)

        • Ryan

          looks like you aren’t the only one. found this interesting….http://blogs.wsj.com/digits/2013/04/11/analyst-blackberry-z10-returns-outnumber-sales/

        • Zacamandapio

          Sad to hear (read) that.

          I love it. It has all I need.

          :)

      • Richard Yarrell

        Honestly the laugh is on you if anything. In today’s world business is business nobody will change that clearly. So what they felt the need to enhance the deal rather i would’ve done that same or not who knows. The bottom line here is they felt the need to do so it is what it is. What i think or feel is exactly that which you will never be able to change. You’re thoughts are yours and mines are mines keep that in mind for a general consensus. Your overall opinion doesn’t supersede nor is it superior to others who decide to post comments on this site. Clearly you’re against this deal for your reasons that is your feelings. Thank god you work for tmonews and not tmobile.

        • Yarrell_Douche

          What the hell did you just say? Stop murdering the English language. David is not against the deal you nimrod! His point was that you predicted that the deal would go through as planned, and you were wrong. Suck it.

        • Jose Hernandez

          I have to agree with you here. I have seen other posts form this person, and they usually have the same tone to them. He is always right, but then when things change he was right all alone? And I honestly don not understand his response. I am glad that the deal will happen. Just confused as heck.

        • Richard Yarrell

          Predictions are exactly that predictions some are right and some are not. Clearly everyone was wrong i didn’t make the deal i just felt they should’veheld strong they didn’t. Bottom line who cares who’s right as long as the deal goes through as needed. Hope you guys don’t give up your day jobs.

        • Jose Hernandez

          You need to stop this. You said on other posts here that your prediction was the deal would close as it was originally made. The deal was altered, and now it will probably close as it is “now” and you say “as you expected?”. You can’t have it both ways all the time.

          I never expected or predicted anything, I waited to see what would happen like a lot of other people. If you feel they should have stock with the original deal, that’s fine. Say so. Don’t just make is sound like it was the prediction you had made at the beginning.

          This seems to be something you do a lot.

          So, when we see you posting here that the deal happened as you expected, yet again. We question were you are coming from. You are right, We are happy that the deal will be made.

          And that is what really matters, we just don’t understand why you always predict things that never happen, yet you where always right all alone?

          And what do our day jobs have to do with anything? no one here has ever suggested to know or work on this field, no one but you. So we all hope you are not giving up your day job, unless you do this type of work. If you do, you should find a new carrier path right away.

        • http://tmonews.com David

          I need a box of kleenex right now…I’m sneezing because my allergy your BS is flaring up. It’s not us who shouldn’t quit their day jobs and by the way, I predicted the deal would be changed and this IS my day job. So, there’s that.

        • kev2684

          I love david’s bitch mode.

        • http://tmonews.com David

          It’s only reserved for very special folks and today, tech blog troll of the decade is on the receiving end. Unfortunately, it’s like doing battle with an unarmed opponent.

        • lovingmyGN2

          Damn Dave I hope I’m not on that list lol. I’m as humble as a person can be and I actually think your a cool dude. “Not trying to kiss up”

        • Dion Mac

          I think I just fell in love with you! HEHE

        • lovingmyGN2

          Awwe leave poor o’l richie alone.

        • squiddy20

          …. except you didn’t “predict” anything. You said the deal WOULD go through. When stated like that, it’s what’s known as a fact. A fact you could not have possibly known. A prediction on the other hand, generally begins with “I predict…” or “I think…” or even “I hope…”. Did you put anything even remotely like that on your “prediction”? OF COURSE NOT.

          What a retard.

        • Dion Mac

          Now I don’t feel so bad for snapping on that guy yesterday!

        • jaxgrim

          And a horse is a horse. Of course. Of course.

        • Richard Yarrell

          And a jerk is a jerk of course of course

        • CJ

          U MAD BRO?!?

        • squiddy20

          How original…

        • Fraydog

          When in a hole, you aren’t going to make the situation better by digging deeper.

        • http://twitter.com/Joegar43 Jeremiah

          Looks like Richard got caught in another lie. Sometimes the less said is better especially in the situation you have gotten your self into today Richard.

        • squiddy20

          “The laugh is on you”????? Congratulation on failing at basic sayings everyone knows…

          “You’re thoughts are yours and mines are mines” Your thoughts are not “mines” you uneducated retard. Those are the things that when you step on them go “boom”. Learn the difference.

          “Your overall opinion doesn’t supersede nor is it superior to others who decide to post comments on this site” The fact that you stated, without a doubt, that the deal WOULD go through on time is not an “opinion”. You stated it as a fact. A fact you could not have ever known, and were proven wrong on, just like all the other things you “knew” would happen, but were wrong about.

          “Clearly you’re against this deal for your reasons” Then by all means, show us where/when he has ever stated he was against the deal. We’re waiting.

    • Yarrell_Douche

      You are too funny !!! DBAG!!!!

      • Richard Yarrell

        It takes one to know one.

        • Lolololol

          Richard… you need to STFU.

          But really.

    • lovingmyGN2

      Damn rich everybody pics on you lol, even the site create smh. What have you done to be picked on so much?

    • squiddy20

      What a moron. Can’t even keep your own pitiful story straight.

  • Dracos

    so did DT send some folks to talk with the Paulson guys….off the record :)

    • wat

      Zee Germans are cunning….

  • mingkee

    It’s one big step closer to completion.

    • Dion Mac

      Its one small step closer to completion, one big step towards totally DOMINATION!

  • Deon Davis

    Two things wish will end! 1. Friday comes and goes for the iPhone fever passas so T-mo can finally announce the One for pre-order. 2. This vote passes so T-mo can move and build on for the year of the Pink!

    • Dion Mac

      Year of the pink.. i like that.

  • scarfacemario

    Yes yes yes bring us LTE-Advanced so we can crush Sprint and move forward!

  • â“œ@®!â“ž G@®CI@ â„¢

    Yes yes yes bring us LTE-Advanced so we can crush Sprint and Move Forward!

    • keasycase

      We will be 3 place soon

      • Fraydog

        Um, no. You’re only going to be third place if you either buy out Leap and USCC with Sprint shooting itself in the foot in the process, or you’re going to be third because SoftBank bought both Sprint and T-Mobile USA.

      • http://profiles.google.com/mrice.hill Mr. Hill

        Even if T-Mobile gains record subscribers for the rest of the year it still won’t be third. It would take 2-3yrs of extraordinary growth as well as almost no growth from Sprint to take number 3. Remember Sprint has also started to gain subscribers again since they started carrying the iPhone.

        • keasycase

          I kno u guys just saying we will be 3 place eventually

    • TechHog

      We have that already. Metro’s LTE isn’t even close to LTE-A lol

      • Trevnerdio

        We just want their spectrum, not their crappy LTE

        • TechHog

          Exactly

  • JustSaying

    and JUST like that. Things turn around :) yay

  • bleeew

    So money makes people change..

  • Qbancelli

    Glad it’s over.
    Light up NYC with LTE now!

    • N1Ro

      Hopefully the Metro PCS LTE will be branded as T-Mobile 4G LTE shortly after the vote take place and the deal is finalized. NYC and other areas of which T-Mobile is not currently offering LTE should light up very quickly.

      • daniel

        i thought t-mo was redoing the metro pcs 4glte because metro’s lte is kind of slow. maybe i’m wrong.

        • N1Ro

          You are correct. LTE Antennas and Equipment means nothing without the appropriate spectrum. T-Mobile will take advantage of Metro PCS LTE towers and LTE coverage, while at the same time Metro PCS AWS spectrum they use for LTE, will merge with the existing/huge amount of AWS spectrum T-Mobile is currently owning. Sweet?

        • daniel

          ok thanks

        • TMOLOYAL

          While that all sounds good, it is not 100 or even 90% accurate. T-Mobile customers will not see a Metro network. T-Mobile will continue to build out their network and once they get enough Metro customers with T-Mobile capable handsets in their hands they will turn off the Metro network and then and only then reuse Metro’s spectrum (RF), but it will be broadcast from the T-Mobile network. not Metro.

        • N1Ro

          Part of what you are saying is true for MetroPCS 1900Mhz CDMA network of which T-Mobile will slowly clear out and reform it to HSPA+ (most likely) in the next couple of years. LTE resources such as spectrum, network equipment and coverage on AWS, will be share almost immediately on the new company and will benefit both T-Mobile and MetroPCS LTE users with greater coverage and LTE speeds.

          T-Mobile is doing everything right on this merger, plus the networks naturally fits together. Both companies using the same frequency for LTE and the CDMA network MetroPCS is using will be completely shut down with its 1900Mhz frequency merging with T-Mobile’s 1900Mhz HSPA network.

      • TechHog

        You do NOT want straight MetroPCS LTE. It’s way slower than T-Mobile’s HSPA+. It’s going to take time to combine the spectrum and make it useful for us

        • N1Ro

          Read my reply to Daniel. Plus pre-preparation has already began to merge the two networks. On top of that T-Mobile is also building their own LTE in metropolitan cities including NYC.

    • TBN27

      Yes preach! I am ready for faster Internet speeds!

  • TBoz

    Now bring on the One already!!!

  • Mirad77

    What a DB.

  • keasycase

    Lte and better coverage let’s goooooooo

  • Dion Mac

    I must say, I’m pleased to hear this news. As for NewCo is concerned, less outright debt is the best move!

    Also this kick a$$ advertising… I hope a million new subscribers sign up on Pink Friday!

    • thepanttherlady

      Yes! Let it be forever known as Pink Friday! Maybe they can use that slogan and have sales every year. :)

      • http://twitter.com/SParKlngCyaNide SparklingCyanide

        That’s it, I’m wearing Magenta to work tomorrow even if nobody knows why I’m doing it.

        • thepanttherlady

          Hmmm…I don’t think I even own a magenta colored shirt. Darn! I would have totally done it too. I probably wouldn’t have gotten as many wondering looks as you though. LOL

  • guest911

    It is better than nothing. :)

    DT will able to pay off 3 billion debt off easily. :D

  • http://twitter.com/SParKlngCyaNide SparklingCyanide

    This is Excellent news… EXCELLENT!! (I don’t normally use all caps, but I honestly think this occasion calls for it : )

  • TBN27

    I am so psyched that even though I got an unlocked iPhone 5, I will buy the new one tomorrow on GP.

  • Oliver Jackson

    FINALLY!!!Now let’s get some work done on the 24th please.We’re hungry for LTE

  • Oliver Jackson

    To everyone on here STOP THE MADNESS!!! We’re suppose to be here to celebrate this great news not be at who was right and who was wrong.David your the editor be a professional at all time man.Everyone entitled to their opinion just have thick skin and keep it moving..4/24/13.

    • nd5

      Here, Here! I agree with you!

  • TMOTECH

    Woo hoo!

  • fixxmyhead

    so does this mean yarrell was right? lol

    • jonathan3579

      No. Never…