A prominent proxy adviser said MetroPCS Communications Inc. shareholders should vote against a merger with Deutsche Telekom AG unit T-Mobile USA, saying they would receive an unfair split of the combined company and would do fine owning shares of a stand-alone carrier.
MetroPCS Communications Inc. Chief Executive Roger Linquist said the timing of Sprint Nextel Corp’s pending deal to sell a 70 percent stake to Softbank “certainly could be” problematic if Sprint wants to make an offer for MetroPCS.
Dish Network Corp. Chairman Charlie Ergen made a bid to acquire MetroPCS in August for about $4 billion, according to people familiar with the matter, the latest sign that the executive has pursued serious steps to enter the wireless business.
The boards of Deutsche Telekom AG and MetroPCS Communications Inc. have approved a deal to merge MetroPCS with the German operator’s U.S. subsidiary, T-Mobile USA, people familiar with the matter said Wednesday, a deal that would give the fourth-largest U.S. wireless carrier more scale as it tries to compete with the industry’s leaders.
The Justice Department on Thursday granted antitrust clearance to Verizon Wireless’s $3.9 billion deal to acquire airwaves from several cable companies including Comcast Corp., but it required the companies to make changes to their side agreements to sell each other’s services.