Back in October, we explained how the MetroPCS and T-Mobile deal was structured as a reverse merger meaning that in theory, the smaller MetroPCS was buying the larger T-Mobile. This way, T-Mobile would instantly be a public company once the deal closed. T-Mobile parent Deutsche Telekom will own 74% of the combined company when the dust settles on the merger.
MetroPCS share holders will vote on the merger March 28th
As a public company, before the merger is completed, shareholders of MetroPCS must approve it. A vote is scheduled for March 28th and not all MetroPCS shareholders are thrilled with the deal. A couple of Hedge Funds, P. Schoenfeld and Paulson & Co, have complained about the merger which gives MetroPCS shareholders $4.09 a share in cash and together, a 26% ownership in the new company which is expected to be named T-Mobile. P. Schoenfeld has filed with the SEC, saying that the deal is unfair. The fund owns 2.3% of the carrier's shares which it will vote against the deal, and if Paulson votes its 8.7% stake the same way, it could make things interesting.
Even if MetroPCS shareholders let the deal go through, the merger still will require regulatory approval in the U.S.
Mint Mobile is now allowing you to get whichever plan you like for either three, six, or 12 months for just $15/mo. If you go for the six-month unlimited service, for instance, you'll now have to pay just $90 upfront instead of $210.
Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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