MetroPCS moves date of vote on T-Mobile merger to April 12th 2013

MetroPCS moves date of vote on T-Mobile merger to April 12th 2013
MetroPCS shareholders of record as of the close of business on March 11th will get to vote on April 12th on whether or not to allow T-Mobile to purchase the pre-paid carrier. MetroPCS stockholders will each receive $4.09 a share in cash plus the 26% share of the merged company that won't be owned by T-Mobile parent Deutsche Telekom. The original date for the stockholders' vote was March 28th, but an administrative error has forced the company to delay the voting.

With the extra time before the voting takes place, MetroPCS suggests that shareholders review MetroPCS' latest quarterly and year end earnings announcement which showed a gain in operating earnings of 10% for 2012. The number of MetroPCS customers using 4G LTE soared 117% from the third quarter of 2012 to the fourth quarter of 2012 and now numbers 2.2 million subscribers. The extra time, said MetroPCS, will also give its holders more time to think about the benefits of the deal.

MetroPCS said it will file an amended proxy statement with the SEC to reflect the new voting date. The pre-paid carrier, the nation's fifth largest mobile operator, is recommending that its shareholders vote in favor of the deal by returning the "Green" proxy cards. MetroPCS also suggests that stockholders discard the "White" proxy cards which count as a vote against the merger and which were sent out by a dissident stockholder. Two hedge funds that together own 11% of MetroPCS stock, P. Schoenfeld and Paulson & Co, have discussed voting their combined stake against the merger.

source: MetroPCS

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15 Comments

1. archangel9

Posts: 233; Member since: Feb 07, 2010

You got my vote . Mark your calendar everyone

9. meowcenary

Posts: 187; Member since: Apr 13, 2012

So you are a shareholder? You can mark your calendar(s), however it's not going to mean much.

2. RORYREVOLUTION

Posts: 3131; Member since: Jan 12, 2010

How exactly is this going to work since Metro is a CDMA carrier?

5. Birds

Posts: 1172; Member since: Nov 21, 2011

I was wondering the same thing...Are there some articles I haven't read? Is it going to be like in areas where T-mo coverage is bad they will use Metro's network as an add-on thingy or are they just trying to buy their LTE on the slick???

6. RORYREVOLUTION

Posts: 3131; Member since: Jan 12, 2010

My exact thoughts...I would be perfectly fine with T-Mo buying their LTE because Metro actually has LTE in my area(mind you its slow compared to Verizon's and AT&T's but it beats 3G anyday) I just don't see how they are going to actually do this.

7. JC557

Posts: 1919; Member since: Dec 07, 2011

For CDMA LTE phones it should be a simple software addition to activate the GSM bands that should be on almost all LTE chips. Not sure about the older 3G handsets... possibly they'll do what was done back in the Cingular days with TDMA and GSM in which both phones would be supported somehow.

8. meowcenary

Posts: 187; Member since: Apr 13, 2012

You just figured out that T-Mobile purchased Metro PCS for their LTE infrastructure?

3. Mr.Mr.Upgrade

Posts: 474; Member since: Aug 30, 2011

Verizon can buy metro PC n their business would soar

4. RORYREVOLUTION

Posts: 3131; Member since: Jan 12, 2010

Verizon wouldn't keep MetroPCs around because they want everyone on a limited data 2 year contract plan. If they offered their coverage and data speeds at Metro's costs and contract free, it would hurt Verizon's business big time.

10. meowcenary

Posts: 187; Member since: Apr 13, 2012

Been a metro user for a few months and to tell you the truth, it's Foxtrot Alpha. Metro's LTE downstream was not used at 100% At least T-Mobile can now build around Metro's LTE and use Metro bandwidth as auxiliary or not.

11. MartianMe unregistered

Why would you even support a company like verizon or att anyways?...they're blood sucking vampires.

12. meowcenary

Posts: 187; Member since: Apr 13, 2012

ANy company is a blood sucking vampire. The soul purpose of any business is to make a profit at any cost. Well come to the capitalism..

13. Mr.Mr.Upgrade

Posts: 474; Member since: Aug 30, 2011

Why would I want reliable service...... u joking right......thats like telling someone a bicycle is better than a car.....t mobile is a joke....just cause u brokes can't afford something makes it bad lmao....get a job...stop being 28 and up living in your parents house

14. paulyyd

Posts: 340; Member since: Jan 08, 2011

Learn how to type correctly, how about that buddy

15. parkwaydr

Posts: 572; Member since: Sep 07, 2011

Go back to school you dummy.

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