Institutional Shareholder Services, an influential proxy advisory firm seen as an arbiter between warring shareholders, recommended MetroPCS shareholders vote against the carrier's proposed merger with T-Mobile USA on April 12.
T-Mobile USA CEO John Legere expressed strong confidence Tuesday that MetroPCS shareholders will approve T-Mobile's planned merger with the flat-rate carrier when they vote on the deal April 12.
T-Mobile USA formally unveiled its new no-contract pricing without device subsidies and also said after years of waiting it will launch the LTE-capable Apple iPhone 5 on April 12. The carrier also launched its LTE network in its first seven markets.
As LTE network buildouts accelerate, many operators are now turning their attention to VoLTE. I recently talked with Nicola Palmer, CTO of Verizon Wireless, and she was adamant that the company will deploy VoLTE later this year or early in 2014. Although she didn't provide a lot of details, she said that the company's VoLTE service would incorporate Rich Communications Services, or RCS, and customers would be able to access VoLTE when they travel.
MetroPCS reiterated its call to shareholders to approve its merger with Deutsche Telekom's T-Mobile USA, arguing that no other company has emerged since last fall to make a counter bid for the company.
T-Mobile USA will continue to offer its traditional Classic plans with device subsidies at third-party retailers, according to a TMoNews post. The company had previously announced that it intends to switch exclusively to offering its Value plans without device subsidies later this month.
With shareholder approval essentially all that stands between T-Mobile USA merging with MetroPCS, one minority institutional MetroPCS investor is doing all it can to draw attention to what it sees as the flaws in the deal. P. Schoenfeld Asset Management LP, whose holdings represent about 2 percent of MetroPCS shares, sent a letter to MetroPCS shareholders urging them to vote against the deal and promising to deliver a white paper that explains its opposition.
The FCC approved T-Mobile USA's proposed merger with MetroPCS, putting the deal one step closer to completion. The transaction has received approval from the Department of Justice and must now be approved by MetroPCS' shareholders, who are set to vote on the deal April 12.
MetroPCS sent a letter to its shareholders urging them to approve its planned merger with T-Mobile USA when they vote on the deal April 12, arguing that minority shareholders are spreading misperceptions about the agreement. Meanwhile, a lawyer for the Communications Workers of America union said in an FCC filing that the commission may approve the deal at the bureau level rather through a formal vote by the FCC's five commissioners.
T-Mobile USA is preparing to cut jobs at its headquarters in Bellevue, Wash., ahead of its planned merger with flat-rate carrier MetroPCS, according to multiple reports.