MetroPCS’s Largest Shareholder to Vote Against T-Mobile Merger

Posted by at 11:50 am on March 3, 2013

MetroPCS and T-Mobile face dissension among the shareholder ranks. MetroPCS shareholder John Paulson, who manages a hedge fund through Paulson & Co., notified MetroPCS today that he intends to vote against the proposed merger.

Paulson’s fund holds a 9.9% stake in MetroPCS. Paulson’s decision follows a similar one by P. Schoenfeld, which owns a 2.3% stake in the company. The two shareholders believe that MetroPCS can negotiate a better acquisition deal with companies other than Deutsche Telekom,

T-Mobile USA’s parent company. MetroPCS and T-Mobile are still confident the deal will garner the support from the majority of shareholders, as well as the federal government.

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