Ina Fried

Recent Posts by Ina Fried

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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There’s a lot of attention and PR around Marissa, but their product lineup just kind of blows.

— Om Malik on Bloomberg TV, talking about Yahoo, the September issue of Vogue Magazine, and our overdependence on Google