The US antitrust regulator the Department of Justice (DOJ) has issued a second request with regards to the proposed reverse merger of MetroPCS with T-Mobile USA. The request means that the companies have to submit further information on the proposed…
The US antitrust regulator the Department of Justice (DOJ) has issued a second request with regards to the proposed reverse merger of MetroPCS with T-Mobile USA.
The request means that the companies have to submit further information on the proposed transaction – a process which in practice often takes months, depending on the complexity of the merger under review.
Once all the requested documents have been submitted to the DOJ, the regulator will have 30 days to assess them. This deadline can be pushed back further with agreement from the merging parties and the authority.
“MetroPCS intends to cooperate fully with the DOJ to obtain approval of the transaction as soon as possible and remains confident that the DOJ will find that the transaction is both pro-competitive and pro-consumer,” the company said in a statement.
In early October Deutsche Telekom (DT) and MetroPCS signed a definitive agreement to combine T-Mobile and MetroPCS.
DT will own 74% of the new telco, while MetroPCS shareholders will own the remaining 26% and be paid US$1.5bn in cash.
Completion of the transaction is subject to MetroPCS shareholder approval, regulatory approvals and other customary closing conditions.
MetroPCS expects the transaction will close in the first half of 2013.
