Advisory firm urges MetroPCS investors to reject T-Mobile bid

03/27/2013 | Bloomberg · Wall Street Journal, The

Prospects for MetroPCS shareholders approving a proposed merger with T-Mobile USA suffered a setback on Wednesday when Institutional Shareholder Services, an influential proxy advisory firm, recommended that investors reject the bid, saying that the deal was inadequate and that MetroPCS could do just as well as a standalone carrier. The ISS opinion could lend momentum to the major MetroPCS shareholders, such as the hedge fund Paulson & Co., who have criticized the deal. "Absent merging with T-Mobile, PCS will still have $1.5 billion of cash to dedicate to new spectrum in some way and could continue operating as a stand-alone company," ISS said in its report.

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Bloomberg · Wall Street Journal, The

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