Feds approve MetroPCS/T-Mobile deal
March 12, 2013
By Jeff Bounds | Senior Staff Writer
Dallas Business Journal
The Federal Communications Commission has given its approval to a proposed combination of Richardson-based MetroPCS Communications Inc. and T-Mobile USA Inc.
The deal, structured as a recapitalization, must still get the green light from shareholders of MetroPCS, a wireless phone and data services company.
A shareholder vote on that is set for April 12. A proxy fight has erupted over the terms the deal, with dissident shareholders saying the combined firm would carry too much debt, among other things.
On a related front, federal antitrust watchdogs closed their investigation into the deal, concluding the deal will not harm competition and may make T-Mobile stronger, according to Bloomberg.
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