While the deal didn't change what MetroPCS stockholders will get in the merger, $4.06 a share and a 26% stake in the combined company, the lower amount of debt and lower interest rate means that the surviving company could be flexible enough financially to buy more spectrum. In addition, Deutsche Telekom, which ends up with 74% of the company in the transaction, now promises not to sell any of its shares for 18 months from the deal's closing, up from only 6 months in the original merger deal. That removes some pressure on the stock for the first year and might have been the part of the revision that made hedge fund Paulson and Co. do a reversal to say it now supports the merger and will vote for it. The fund is the largest MetroPCS stockholder and its decisions are watched by other big holders of the stock.
The new date for the stockholder meeting is April 24th. It is the last hurdle required before the deal can close.