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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 Department of Justice 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 on the proposed merger. … [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 pushed back date will … [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 Paulson, said in a … [read full article]

MetroPCS Board To Hold T-Mobile USA Merger Vote On March 28th

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While March 14th may be a big day for Android and Samsung owners the world over, it’s March 28th that will have the attention of proponents and detractors of the MetroPCS/T-Mobile USA merger. The deal continues to receive regulatory scrutiny as it goes through the FCC and DOJ review process, but will also require the approval of MetroPCS shareholders. The deal has received some negative … [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 its part, Deutsche Telekom … [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 “carefully review and consider” … [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 USA. It’s the first … [read full article]

As MetroPCS Share Price Drops, Will Other Suitors Reconsider Making Competing Bids?

Since the announcement of the MetroPCS merger with T-Mobile USA, the company’s shares have dropped 27 percent. The decline in share price could potentially leave the door open for other suitors, including Sprint and Dish Network, though both companies seem unlikely to make bids. Given that Sprint has just announced their intent to buy 100% of Clearwire and Dish continues its search for a national carrier to partner with, MetroPCS shareholders appear “stuck” with T-Mobile … [read full article]

MetroPCS Will Launch Three New Markets If T-Mobile Deal Is Approved

Taking the stage at the UBS Global Media and Communications Conference earlier today, MetroPCS Chairman and CEO Roger Linquist and CFO Braxton Carter discussed the pending deal with T-Mobile. Specifically, Linquist discussed that 2013 will be a year of stabilization for T-Mobile’s postpaid customer base and a year of growth for MetroPCS. In fact, Carter says that MetroPCS will expand its service to 3 additional markets if the T-Mobile deal is approved. MetroPCS officials wouldn’t discuss … [read full article]