MetroPCS Delays Crucial Shareholder T-Mobile Vote
MetroPCS responded to Deutsche Telekom's improved merger offer Wednesday by delaying the key shareholder vote originally scheduled for April 12. MetroPCS delayed the vote until April 24 to give its shareholders time to consider the improved deal. Deutsche Telekom reduced the amount of debt that will be owed by the merged MetroPCS/T-Mobile entity to DT by $3.8 billion, and also lowered the interest rate on the loan. DT said this was its "best and final offer." The offer was improved due to resistance among MetroPCS shareholders over the original terms of the deal. The deal has already earned regulatory approval.