MetroPCS shareholders OK merger with T-Mobile USA

The deal is now set to close April 30, creating a value-oriented carrier with more than 40 million customers

The merger of T-Mobile USA and MetroPCS cleared its last major hurdle on Wednesday as MetroPCS shareholders overwhelmingly approved the deal.

The merger, first proposed last October, had faced opposition from some large shareholders until T-Mobile parent Deutsche Telekom offered earlier this month to reduce the amount of debt the merged entity would hold and the interest rate on the debt. At a meeting on Wednesday that had been postponed in light of the changed offer, MetroPCS shareholders voted to approve a transaction in which they will receive $1.5 billion cash, or $4.06 per share, and about 26 percent ownership in the new company.

T-Mobile will remain the fourth-largest mobile operator in the U.S. but will gain about 9 million customers, for a total of about 42 million. Both companies are focused on value-priced services and will remain so as a combined company. The combination comes amid a broad reshuffling of the underdog carriers going up against Verizon Wireless and AT&T in the U.S. mobile industry. No. 3 carrier Sprint Nextel is weighing a takeover by Japan's Softbank and a buyout of the rest of Clearwire, while Dish Network is also attempting to buy Sprint and Clearwire.

Shareholders on Wednesday voted 296,521,190 to 21,194,467 in favor of the main proposal for the transaction, with 854,123 abstentions. The other 10 proposals were also approved. The deal is expected to formally close on April 30.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesMetroPCS WirelessT-Mobile USAMergers and acquisitions

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?