Second advisory firm recommends MetroPCS reject T-Mobile bid

03/29/2013 | Reuters · Bloomberg Businessweek · Wall Street Journal, The

T-Mobile USA's bid to merge with MetroPCS suffered another blow when a second proxy advisory firm, Glass Lewis, recommended that MetroPCS shareholders reject the offer as undervaluing the carrier. T-Mobile USA's parent Deutsche Telekom could sweeten the deal, but analysts say the company has gotten frustrated trying to devise a strategy to deal with the unit. MetroPCS investors are scheduled to vote on the deal on April 12, but a group of investors has sued to postpone the vote until the carrier corrects what the plaintiffs claim is a false and misleading proxy statement.

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