MetroPCS Board Announces Unanimous Support For New Deutsche Telekom Deal Terms

tmometro

In a completely unsurprising move, the MetroPCS board of directors has announced that they unanimously support Deutsche Telekom’s new merger offer. Deutsche Telekom improved their offer just two days before MetroPCS shareholders were set to vote on the original terms this past Friday. DT amended their offer in fear that two of Metro’s largest shareholders had convinced a large enough block of voters to strike down the deal. The two loudest voices of objection, Paulson & Co. and P. Schoenfeld Asset Management have now come out in favor of the new terms, leading analysts to believe the deal is all but official.

The MetroPCS Board of Directors unanimously believes that the amendment significantly improves the value of the proposed combination for MetroPCS stockholders and that the proposed combination is in the best interest of all MetroPCS stockholders. The MetroPCS board unanimously recommends that MetroPCS stockholders vote their shares “FOR” all proposals relating to the proposed combination with T-Mobile.

“We are pleased to offer even more value to MetroPCS stockholders through the amendment of certain terms of our proposed combination with T-Mobile,” said Roger D. Linquist, Chairman and Chief Executive Officer of MetroPCS. “We look forward to achieving the significant benefits inherent in the proposed combination on behalf of our stockholders, employees, customers and partners. We share DT’s commitment to the successful completion of the combination and look forward to creating the value leader in the U.S. wireless marketplace.”

Surprise, surprise. On to the April 24th shareholders vote!

MetroPCS

 

Tags: , , ,

  • Get_at_Me

    Let’s hope the shareholders feel the same way

  • JustSaying

    My guess is T-Mobile wants to make Metro PCS their prepaid only brand. That’s probably why they want to expand the Metro PCS brand into more markets. Just a guess.

    • http://knightofscorpio.tumblr.com/ DtheArtist

      Interesting. Didn’t really think about that.

    • brianb

      The CEO of Tmobile hinted at using them as a prepaid phone brand in major markets. The germans (DT) still want to dump the combined company. They spoke of Sprint or dish buying t-mobile. Since Dish is now BUYING Sprint…not sure what will happen;(

      Why won’t the german TRY!!!!

      • Adrayven

        I think the t-mo rumor was a bad attempt at grabbing headlines/influence stockowners. If Dish approached t-mobile, it would have been 6 months if not more than a year ago. The fact that they hinted it was being entertained was laughable.

        DT dumping combined company? Not.. Especially with DT upping their stock commitment from 6 months to 18 months. They can’t just sell off like you seem to think. Thats not an indication of wanting to dump the combined company. Thats them being willing to stick with it for some time.

  • Dishy

    If the Dish deal with Sprint doesn’t work out.. does anyone think Dish would be willing to sell their spectrum to T-Mo? 700 Mhz spectrum sounds nice. I just don’t want T-Mobile and Dish to merge.

    • Spooln3

      No, Dish has made it pretty clear it wants to enter into the Wireless market, and selling off their spectrum, which is huge leverage for them, wouldn’t fit their road map.

    • SouthernBlackNerd

      It is 6Mhz of unpaired spectrum. It really would not help Tmobile. Dish would also ruin the progress that legere and co have started. Ergen is like the plague.

  • Brad

    What -if anything- will this merger do to improve network coverage?

    • http://www.makeuseof.com Danny Stieben

      T-Mobile gets MetroPCS’s spectrum. More spectrum means more room to expand coverage and improve the quality of LTE/HSPA+.

    • TMOTECH

      Metro has sites in their markets T-Mobile is not co-located on. T-mobile will build on those sites. Plus the addition of metro 1900 and AWS spectrum to T-Mobile and you have a better network with expanded coverage. Then you add the fact that T-Mobile will be publicly traded and deciding how to spend its own money on the network, (not having to take direction from DT) and brand new cell sites will start to be built again.

      • TechFan

        OMG TmoTech is back! :) where have you been?

        • GwapoAko

          He is busy attending to iPhone customers :0)

      • â“œ@®!â“ž G@®CI@ â„¢

        TMOTECH! yes your back! I hope you keep coming and updating us we really appreciate it

      • TMoFan

        Hey TMOTECH it’s good to see you. I was just wondering why I haven’t seen you lately. Figured you’re busy the network upgrades! :)

      • TMODUDE

        TMOTECH! I haven’t seen you In quite a while! Welcome back!

      • TMOTEO

        Hey, what’s up?

      • fsured

        I had asked a similar question about a week ago and got a bit of
        different answer. While it will benefit TMO to have the Metro towers
        and spectrum, the benefit will only be felt in those areas which both
        Metro and TMO currently service. That is what answer I was given. Being
        unable to shift extra spectrum to other cities or use it to expand
        their network foot print really does limit the improvements to say,
        Dallas, NYC, or Florida for example. These are just locations found
        using a Metro coverage map.

        Please do not have my
        comment taken as a truth as I’m not familiar with how coverage works,
        hardware, spectrum, etc. I’m basing the comment from what I’ve been
        seeing in other posts and information sites. I don’t live in one of
        those areas serviced by both companies which would for sure see a boost
        in the network. How this merger will help coverage in other areas is
        still a mystery to me. If someone with knowledge in how this will or won’t affect the entire TMO coverage map can chime in I’d be thankful.

  • http://www.facebook.com/unfazedrebel Jé Be (Here but Gone)

    ……Nooooo [ooooooooo

  • http://twitter.com/fightcrazy Vinny

    T-Mobile is taking over the world. Verizon who???????

  • http://twitter.com/Joegar43 Jeremiah

    Metro pcs customers are credit challenged.

    • http://about.me/daylondeon Deacon

      and they’re really uhhh .. nevermind i won’t go there lol

  • mingkee

    It’s done.
    The next will be Metro customers waiting for 5s or S4.

  • eric

    So if I understand correctly Tmobile’s 4g and 3g towers along with metro’s towers will be upgraded to lte advanced and the 2g (edge) will be upgraded to hspa+ 42 by the end of this year. Is this the plan?

    • Dion Mac

      Absolutely not. While T-Mobile has already paid to have their egde network upgraded, but its going to take way more than end of year to get that completed. As well, there will still be come 3g or 4g hspa+ areas that will stay that way. As far as LTE, its my understanding, that its just LTE right now and will eventually move to LTE advance.

  • neuromantic

    Are there any other large stockholder firms that might step in over the next few days asking for more changes in the terms? Other than that, since the original complaints have been satisfied and the 2 firms are now recommending it, this deal should sail right through.

  • Dion Mac

    Awwww, what a statement they made.

  • Dennis Da Menace

    “The two loudest voices of objection, Paulson & Co. and P. Schoenfeld
    Asset Management have now come out in favor of the new terms…”

    Looks like you two managed to milk a little bit more from DT. Well played you two, well played. =)

  • sushimane88

    Im guessing it’s a done deal for metro pcs.

  • $9926629

    Meanwhile, HQ continues to lay people off these past few weeks.