T-Mobile – MetroPCS update: Passees DoJ, in shareholders' hands

MetroPCS. Yesterday we learned that the DoJ won’t step in on this one. Their opportunity to pry further into the merger has passed, implicitly signaling that they have no problems should the two parties come to a final agreement. But in this case, the future hurdles appear significant. Some MetroPCS shareholders have been raising a stink about this deal from the start. Back in October we learned that a group of shareholders filed suit, claiming that MetroPCS was “drastically undervalued” under the merger terms. Not long ago John Paulson, whose hedge fund owns a 9.9 percent stake in MetroPCS, made it known that he will vote against the deal. Combined with another no-voting shareholder, that makes more than 12 percent against as of this moment. We’ll know more about the chances of the merger on April 12, when MetroPCS stockholders will vote. ]]>