Deutsche Telekom recently gave MetroPCS shareholders its best and final offer and that offer seems to have satisfied the bunch. Bloomberg says that shareholders recently approved the transaction in which Deutsche Telekom will merge MetroPCS with T-Mobile USA, giving the carrier additional spectrum to build out its 4G LTE network.
“Given our opinion that MetroPCS’s long-term prospects as a stand-alone company are ultimately capped, and that an eventual merger with a larger strategic partner is inevitable, we believe the merger with T-Mobile as presently constructed represents MetroPCS’s best alternative,” MetroPCS said, according to a statement obtained by Bloomberg. Before the offer, advisory firms had recommended that MetroPCS shareholders hold off on green-lighting the deal.
The deal already has approval from the Federal Communications Commission and the Department of Justice didn’t step in to block any aspect of it, so most of the hurdles have already been cleared. We expect T-Mobile or Deutsche Telekom to make a comment shortly.