Finalization of the deal between MetroPCS and T-Mobile is drawing near, but it’s not without its roadblocks. This morning MetroPCS released a statement to shareholders urging them to support the bid in light of an activist campaign opposing the merger.
Shareholders will vote on the matter at a special meeting April 12. MetroPCS is pushing the merger as a positive move, stating it will leave the company well-positioned in the competitive U.S. marketplace thanks to increased financial resources, improved network coverage and seasoned leadership.
Two of the biggest MetroPCS shareholders – Paulson & Co and P. Schoenfeld Asset Management – have publicly stated their opposition to the deal, which would see T-Mobile’s parent company Deutsche Telekom hold 74 per cent of the company.