MetroPCs wants its shareholders to vote thumb's up on the T-Mobile merger.
In a letter sent today by MetroPCS to its investors, the company said it could provide no assurance that it would offer better shareholder value remaining as a standalone carrier, according to Reuters. If approved, the deal would see MetroPCs declare a 1-for-2 reverse stock split and give its stockholders $1.5 billion back in cash.
Investors would actually own 26 percent of the combined company, while T-Mobile USA's parent Deutsche Telekom would wind up with the remaining 74 percent.
The letter urging approval of the … Read more