MetroPCS Shareholders Approve T-Mobile USA Merger

MetroPCS Communications shareholders approved a sweetened deal to merge with Deutsche Telekom AG’s T-Mobile USA in a crucial vote that gives the German company a chance to revive its US business. The transaction will probably be completed by May 1 after today’s ballot cleared the final hurdle for the combination of the country’s fourth- and fifth-largest wireless carriers. The deal gives Deutsche Telekom a 74 percent stake in the merged entity and MetroPCS shareholders a $1.5 billion cash payment. The enlarged T-Mobile USA will be exchange-listed and Deutsche Telekom has agreed not to sell the shares on the market for 18 months.