Shareholders in US wireless operator MetroPCS have voted in favour of Deutsche Telekom’s proposed merger with T-Mobile USA. This is the last hurdle the transaction had to clear after securing all necessary regulatory approvals. Deutsche Telekom said…
Shareholders in US wireless operator MetroPCS have voted in favour of Deutsche Telekom’s proposed merger with T-Mobile USA.
This is the last hurdle the transaction had to clear after securing all necessary regulatory approvals. Deutsche Telekom said the transaction will now close on 1 May.
“This is a major step for Deutsche Telekom,” said Rene Obermann, CEO of Deutsche Telekom. “The merger with MetroPCS is extremely important, since it enables us to be more aggressive in the USA..”
The shareholder vote was set to take place on 12 April, but was pushed back because Deutsche Telekom improved the terms of its offer due to criticism from investors.
The German incumbent improved the terms of its offer by paring the debt the merged company would hold by US$3.8bn and cutting the interest on that debt. It also pledged not sell stock in the merged company for 18 months.
