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:

  • Apple: bargain priced MacBook Pros from $929 - 3:47 PM EST
  • DealNN: Sony cameras, 3D TVs, Harman Kardon earbuds and more - 3:45 PM EST
  • Google Maps extends navigation, adds 'Missing Places' to apps - 1:17 PM EST
  • Cook appears at Palo Alto Apple Store, Ahrendts shows in Sydney - 12:58 PM EST
  • Friday Deals: 240GB SSD, touchscreen monitor, $15 iTunes card for $10 - 12:31 PM EST
  • SACOM protests labor abuses during Hong Kong iPhone 6 launch - 11:49 AM EST
  • Fifth Avenue iPhone 6 line spans 12 blocks; 6 Plus in low US supply - 10:26 AM EST
  • iOS 8 is Apple's first large-scale use of its new CDN, firm says - 9:30 AM EST
  • Virgin Atlantic to offer Gogo in-flight Wi-Fi on entire plane fleet - 7:51 AM EST
  • Briefly: Pebble firmware update, Netflix out in two more countries - 6:43 AM EST
  • First look: iPhone 6, 6 Plus - 3:02 AM EST
  • Wozniak on the iPhone 6: 'I've gotten rid of my Android phones' - 1:42 AM EST

    Today's iPodNN Stories:
  • Vodafone plans takeover of 140 Phones 4U stores, save 900 jobs - 3:33 PM EST
  • Nokia.com visitors in United Kingdom redirected to Microsoft site - 11:05 AM EST
  • Sony reveals SmartEyeglass headset prototype, releases SDK - 5:53 AM EST
  • Nvidia announces GTX 970, 980 cards with Maxwell GPU architecture - 12:30 AM EST
  • China denies hacking involvement uncovered in US committee report - 10:26 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.