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...He led the company’s acquisition of rival MetroPCS and its float on Nasdaq in 2013 and the business now accounts for most of Deutsche Telekom’s value....
...In 2013, it opposed T-Mobile USA’s merger with MetroPCS, eventually backing the deal after T-Mobile revised its offer....
...T-Mobile listed its shares through a reverse merger with MetroPCS. T-Mobile has since emerged as a no-frills carrier that is adding subscribers faster than any competitor....
...Investors have cheered so far, as T-Mobile shares have doubled since the MetroPCS merger last April....
...Deutsche Telekom had an agreement to merge its laggard US unit with MetroPCS. But that group of dissident MetroPCS shareholders wrangled DT into lifting its offer in exchange for their approval....
...Still, while MetroPCS and Leap disappear, their business model has proven resilient....
...business helped boost group revenue by 5.4 per cent to €15.2bn in the second quarter of 2013, compared with the same period last year, although this also reflected the first-time consolidation of the merged MetroPCS...
...As part of this effort, T-Mobile US, which became a quoted company following its recently complete reverse takeover of MetroPCS, has also accelerated its rollout of a new 4G network based on LTE technology...
...MetroPCS said the deal should close by the end of the month. A combined T-Mobile and MetroPCS will compete primarily against Sprint for customers seeking low-cost wireless contracts....
...But some MetroPCS shareholders believe they are being short-changed....
...Under these terms, T-Mobile would reverse merge with MetroPCS, and MetroPCS shareholders would receive $1.5bn in cash and 26 per cent of the new company....
...Shareholders will get to vote on the deal at a MetroPCS special meeting on April 12....
...Before T-Mobile acquired MetroPCS, Leap Wireless and MetroPCS had tried to agree on a combination on several occasions. However, they failed to agree on terms....
...MetroPCS shareholders will vote on the revised offer on April 24....
...T-Mobile US, the company formed through the reverse takeover of MetroPCS by Deutsche Telekom’s T-Mobile USA unit, says it is on track to resume organic subscriber growth later this year, setting the stage...
...With investors in MetroPCS due to vote on a reverse merger with Deutsche Telekom’s T-Mobile USA on Thursday, the DT subsidiary upped its terms on Wednesday....
...But they are riddled with subjectivity – as tensions over T-Mobile’s reverse merger with MetroPCS show....
...Coincidentally, on the same date shareholders of MetroPCS will vote on the combination with T-Mobile....
...The network revamp comes ahead of the proposed merger with smaller rival MetroPCS....
...P Schoenfeld Asset Management, which had a 1.66 per cent stake in MetroPCS on December 31, has launched a proxy battle against the merger....
...MetroPCS shareholders could explore other routes for consolidation. A year ago Sprint was close to making an $8bn offer for MetroPCS, financed mostly by the larger group’s shares....
...Earlier, T-Mobile USA completed its reverse acquisition of MetroPCS and Sprint Nextel beat out Charlie Ergen’s Dish Network to buy Clearwire, the wholesale 4G network operator....
...MetroPCS shares rallied 1.5 per cent to $11.12 after Reuters reported that Deutsche Telekom was still working on a deal to buy the mobile operator....
...That was the largest offering so far this year of triple C-rated debt and tied with MetroPCS as the largest sale on record for debt with equivalent low ratings, according to Standard & Poor’s LCD....
...When the AT&T deal collapsed, a revitalised T-Mobile USA – flush with funds and spectrum that AT&T handed over in a break clause – agreed to acquire rival MetroPCS....
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