Originally published: February 11, 2013
Last updated: February 15, 2013 - 9:35am
T-Mobile USA parent Deutsche Telekom strongly defended its merger of T-Mobile with MetroPCS after a minority MetroPCS shareholder sent a letter to the company's board urging it to reconsider the deal.
The back-and-forth was triggered when P. Schoenfeld Asset Management disclosed that it sent a letter to MetroPCS' board Jan. 30 announcing its opposition to the planned transaction, arguing that it undervalues MetroPCS and would load it down with debt that would be "unsustainable" for a company of its size and credit rating. Pushing back, DT said it "remains committed" to the deal and that it will "enforce its rights under the definitive agreement with MetroPCS."
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