Ina Fried

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MetroPCS Moves Forward With T-Mobile Deal, Schedules Shareholder Vote for March

MetroPCS filed papers Tuesday to close its deal to merge with T-Mobile USA, scheduling a March 28 shareholder vote to approve the purchase.

MetroPCS logo

In a letter to its stock owners, MetroPCS urged shareholders to cast a yellow ballot in favor of the deal, and ignore the white “no” ballots being solicited by a dissident shareholder.

“After a multi-year, thorough review of MetroPCS’ options, with the assistance of independent financial and legal advisors, the MetroPCS board determined that this proposed combination is the best strategic alternative for our stockholders,” the company said in its letter.

MetroPCS shareholders will receive an aggregate of $1.5 billion in cash ($4.06 per share), along with a 26 percent stake in the combined company.

T-Mobile has expressed confidence it can make the deal pay off, even allowing for the fact that the two companies today use different network technologies.

MetroPCS also announced its fourth-quarter results Tuesday, posting a 65 percent drop in net income, along with a loss for the year of more than 450,000 subscribers.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work