T-Mobile improves its bid for MetroPCS, prompts MetroPCS to delay its vote

T-Mobile improves its bid for MetroPCS, prompts MetroPCS to delay its vote:

While executives at T-Mobile and MetroPCS may be ready to close their merger, some shareholders aren't -- major advisory firm Institutional Shareholder Services has been recommending that MetroPCS investors vote against the deal unless T-Mobile can sweeten the pot. Consider it sweetened. T-Mobile's parent Deutsche Telekom has made a "final offer" that would slash the debt owed by the post-merger company by $3.8 billion (to $11.2 billion), reduce the interest rate on that debt by half a point and prevent Deutsche Telekom from selling its shares in the merged firm for 18 months, rather than the original six. The reshuffled finances may not sound very exciting on the surface, but they're enough to put MetroPCS in a tizzy: the carrier is delaying a shareholder vote on the deal from April 12th to the 24th to allow for some reevaluations. There's no guarantees that the new offer is enough to please the naysayers. Still, we'd venture that T-Mobile will get a warmer reaction than the last time it tried a corporate alliance.
Filed under: Cellphones, Wireless, Mobile, T-Mobile
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Via: Bloomberg
Source: Deutsche Telekom IR (Twitter)