MacNN | Deutsche Telekom improves T-Mobile, MetroPCS merger terms
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Deutsche Telekom improves T-Mobile, MetroPCS merger terms
Thursday, April 11, 2013 @ 7:09am

Deutsche Telekom has updated its proposal to merge T-Mobile USA and MetroPCS with more favorable financial terms, in an effort to get shareholders to vote for the deal. The changes to the proposal, which has been deemed its "best and final offer," has forced MetroPCS to delay the final shareholder vote until April 24th.



The new proposal sees Deutsche Telekom reducing the debt owed by the merged company by $3.8 billion to $11.2 billion, and to lower the interest rate on the loan by half a percent, writes Bloomberg. The lock-up period, a time when Deutsche Telekom cannot publicly sell shares from the new entity, has been extended from six months to 18 months. Other details, such as MetroPCS owning only 26 percent of the new company, remain static. The changes could help win over critics of the deal, including Institutional Shareholder Services Inc. and Glass, Lewis & Co., that advised other shareholders to vote against the merger. Some critics have already welcomed the move by Deutsche Telekom, and will be reviewing the new terms ahead of the rescheduled vote. The proposed merger of the two carriers has already received scrutiny from the FCC and the Department of Justice, passing both with no negative commentary. The shareholder vote remains the last effective barrier to the merger.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Hands On: White Noise 5.8 (iOS, Mac, Android) - 6:57 PM EST
  • Hands On: Poly Bridge (OS X, Windows in early access) - 12:32 PM EST
  • Apple falls at appeals court, $450M e-book antitrust ruling upheld - 12:05 PM EST
  • Apple updates OS X to 10.10.4; includes networking, Mail, Photos fixes - 11:16 AM EST
  • European Parliament adopts net neutrality rules, ends roaming fees - 10:48 AM EST
  • Apple Music ,iOS 8.4 update are on the air; servers hammered [u] - 10:48 AM EST
  • Hands On: Penumbear 1.2 (iOS) - 9:52 AM EST
  • MacNN Deals: Three ways to improve the way you charge mobile devices - 8:49 AM EST
  • LG Chem creates higher-capacity hexagonal batteries for smartwatches - 7:23 AM EST
  • Hands On: Wolfram Words 1.2 (iOS) - 7:01 AM EST
  • Briefly: Sprint Direct 2 You in more cities, Amazon Prime Now in UK - 6:34 AM EST

    Today's iPodNN Stories:
  • Hands On: Cogmind (PC) - 7:20 AM EST
  • Lenovo design vice president proposes retro ThinkPad creation - 12:53 PM EST
  • Archos PC Stick offers Windows 10 PC in an HDMI dongle - 9:45 AM EST
  • Meizu MX4 running Ubuntu launching in Europe tomorrow for €300 - 6:56 AM EST
  • Lenovo reveals ideacentre Stick 300 as compact HDMI dongle-based PC - 12:43 PM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.