MetroPCS board approves Deutsche Telekom's merger offer, urges shareholders to do the same

After delaying a vote on T-Mobile's final merger bid a few days ago, MetroPCS' board of directors has voiced unanimous approval and is encouraging shareholders to vote yes as well. Deutsche Telekom's offer would reduce MetroPCS' debt by $3.8 billion as well as slash the interest rate on that debt by half a point. These measures should increase both the carrier's overall value and cash flow -- hopefully that will help in building out LTE more quickly. For folks fearing that T-Mo will suffer from buyer's remorse, don't. The offer also stipulates that Deutsche Telekom will refrain from selling its shares in the combined company for 18 months. It remains to be seen if stock owners will be convinced enough to vote yes on April 23rd; and so the saga continues.

Filed under: Cellphones, Mobile, T-Mobile

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Via: TechnoBuffalo