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:

  • Monday Deals: reconditioned 27-inch iMacs, Samsung HDTVs - 12:21 PM EST
  • App Store downloads surge in October off iPhone 6, 6 Plus sales - 11:28 AM EST
  • Watchmakers issue cease-and-desists to smartwatch face creators - 10:38 AM EST
  • 'Apps for (RED)' among Apple efforts for World AIDS Day - 9:29 AM EST

    Today's iPodNN Stories:
  • BT reportedly in talks to acquire O2, EE UK mobile phone networks - 11:30 AM EST
  • Alienware ships compact Alpha 'Steam Machine' gaming PC - 8:25 AM EST
  • UK government wants IP addresses logged for counter-terrorism purposes - 6:08 AM EST
  • First Look: Google Nexus 9 - 5:49 AM EST
  • Samsung launches tactical ITC complaint against Nvidia's GPU line - 12:05 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.