Deutsche Telekom Sweetens Offer for MetroPCS

Deutsche Telekom submitted what it called its "best and final offer" to MetroPCS.

The revised terms lower the amount of debt that will be transferred to the new company by $3.8 billion and cut the interest rate on that debt by half a percentage point. Deutsche Telekom also agreed to hold on to its shares in the new company for at least 18 months after the deal closes. The remaining terms of the deal remain unchanged. MetroPCS shareholders still stand to get about $4 a share in cash and a 26% stake in the combined company. Lowering the debt load increases the value of that equity stake. MetroPCS will push its shareholder meeting back to April 24 to give investors time to consider the new terms.