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MetroPCS Will Combine With T-Mobile

Sections: Business News, Cellular Providers, Communications, Mobile, Smartphones

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A proposed combination of MetroPCS Communications, Inc. and T-Mobile USA announced October 3, 2012 was reaffirmed on Thursday. P.Schoenfeld Asset Management (“PSAM,”) who handles resources for the company released a statement:

“The MetroPCS Board of Directors and management team have been and remain committed to acting in the best interests of all MetroPCS stockholders. The Board believes that the proposed combination with T-Mobile is in the best interests of MetroPCS and all MetroPCS stockholders and continues to recommend that MetroPCS stockholders vote in favor of the proposed combination.”

“As outlined in the Company’s preliminary proxy statement on file with the Securities and Exchange Commission, the pending transaction with T-Mobile is the result of a thorough process that began over two years ago and included the Board and a special committee of the Board considering a number of potential transactions with different strategic partners. The Board and its special committee, in consultation with the Company’s and the special committee’s financial and legal advisors, will carefully review and consider the perspectives provided in PSAM’s letter.”

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