Tag Archives: metropcs

MetroPCS Announces Regulatory Period Expires For Government Agencies To Delay Merger

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A late Tuesday evening press release from MetroPCS announced the waiting period for the Hart-Scott-Rodino act had expired. The waiting period offers regulatory agencies the opportunity to delay the merger between MetroPCS and T-Mobile by having the companies continue to answer questions surrounding the proposed combination. The HSR Antitrust Improvement Act of 1976 provides that parties will not complete mergers until after they have submitted detailed filings with the Federal Trade Commission and … [read full article]

House Democrats Ask FCC To Press T-Mobile/MetroPCS To Keep Jobs As Approval Condition

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A number of House Democrats are urging the FCC to make sure that T-Mobile will accept steps designed to protect jobs as a condition of FCC approval. In a letter to FCC Chairman Julius Genachowski, 62 House Democrats urged they would work against “another consolidation of two companies that leads to reduction of American jobs.” The letter further asked the FCC to force T-Mobile to commit to “preserving US jobs” before signing off … [read full article]

MetroPCS Board Pushes Back Vote On T-Mobile USA Merger

With a special announcement on their investor website, MetroPCS announced that it would move the special meeting of their stockholders to vote on the “proposed combination of MetroPCS with T-Mobile USA, Inc.” According to the statement, the date of the special meeting was changed to “correct an administrative error.” In the same statement, MetroPCS states they now expect the deal with T-Mobile to be completed shortly after the meeting. MetroPCS hopes the … [read full article]

Largest MetroPCS Shareholder Confirms Vote Against T-Mobile Deal

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After a bit of wavering back and forth, MetroPCS’ largest shareholder, John Paulson officially voiced his opposition to the T-Mobile/MetroPCS merger. Paulson argues that any deal in its current form would saddle the new company with too much debt. Paulson’s firm holds a 9.9% stake in MetroPCS, making it the largest shareholder. “We believe MetroPCS is worth more as a stand-alone company,” the firm, founded by the billionaire hedge fund manager John … [read full article]

Another Major MetroPCS Investor Voices Concern Over T-Mobile Merger

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For the second time this week, another major MetroPCS investor has voiced concern over the terms of the T-Mobile merger. Paulson & Co., the biggest MetroPCS shareholder with an 8.7% stake in the company is said to be withholding its decision on whether to vote for the transaction until it sees the final proxy statement. Paulson says the combined company ““has too much debt, the interest rate on Deutsche Telekom’s debt financing is too … [read full article]

Deutsche Telekom Defends MetroPCS Deal Against Shareholder Complaints

As small but influential groups of shareholders openly discuss their discontent with the MetroPCS board and the decision to merge with T-Mobile USA, their parent company defends the deal. Deutsche Telekom’s defense comes as P. Schoenfeld Asset Management disclosed a letter sent to the MetroPCS board at the end of January calling the deal with T-Mobile “unsustainable” and recommending the company remain a stand-alone entity for the time being. For … [read full article]

MetroPCS Investor Signals Intent To Vote Against T-Mobile USA Merger

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An investment advisor holding 7.5 million shares of MetroPCS stock has signaled their intent to vote against the company’s proposer merger with T-Mobile USA. P. Schoenfeld Asset Management which now holds around 2% of MetroPCS shares has sent a letter to the boards of both T-Mobile USA parent Deutsche Telekom and MetroPCS on January 30th detailing their complaints. For its part, MetroPCS responded by saying it still recommends the T-Mobile deal but will … [read full article]

As T-Mobile Deal Looms, Steep Competition Leads To Subscriber Loss For MetroPCS

In the prepaid race, MetroPCS has always been at the forefront of competitive offerings, which makes its unfortunate that the company reported a net loss of 93,000 subscribers in the fourth quarter. As Metro faces increased competition, the company dropped to 8.9 million subscribers overall. The dip in subscribers this morning comes as the company prepares for its merger with T-Mobile … [read full article]

T-Mobile CES 2013 Preview, What Will We See?

The 2013 Consumer Electronics Show (CES) is about to get underway and T-Mobile may be one of the few carriers to have some major announcements. As companies cut their dependency on CES launches and plan their own events throughout the year, we still expect T-Mobile to take advantage of having the worlds greatest tech audience all in one place. I’m saddened that for the first time in five years I’m not on … [read full article]