MetroPCS Announces Expiration of HSR Waiting Period for Proposed T-Mobile Merger
MetroPCS Communications (NYSE: PCS) today announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the Company’s proposed combination with T-Mobile USA, Inc., a wholly-owned subsidiary of Deutsche Telekom (OTC: DTEGY), has expired. The proposed combination remains subject to MetroPCS stockholder approval, as well as certain other regulatory approvals and customary closing conditions. MetroPCS expects the proposed combination with T-Mobile to be completed shortly following the meeting of stockholders.
A Special Meeting of MetroPCS stockholders to vote on matters relating to the proposed combination of MetroPCS with T-Mobile has been scheduled for April 12, 2013. MetroPCS stockholders of record as of the close of business on March 11, 2013 are entitled to vote at the Special Meeting.
The MetroPCS board unanimously recommends that stockholders vote their shares FOR all of the proposals relating to the proposed combination with T-Mobile. The failure to vote or an abstention has the same effect as a vote against the proposed combination. If stockholders vote against the proposed combination, there is no assurance that MetroPCS will be able to deliver the same or better stockholder value.
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