MetroPCS shareholders advised to strike down T-Mobile merger

T-Mobile MetroPCS Merger

T-Mobile CEO John Legere may come to regret publicly slamming the “greedy hedge funds” opposed to his company’s merger with MetroPCS (PCS). The Wall Street Journal reports that the influential Institutional Shareholder Services (ISS) is advising MetroPCS shareholders to vote down the proposed T-Mobile merger at their meeting on April 12th. ISS, which the Journal says “advises big shareholders how to vote in corporate elections,” claims that MetroPCS shareholders will not get fair value in the proposed merger and believes that MetroPCS still has the potential “to continue to thrive as a stand-alone company.” T-Mobile and MetroPCS received full regulatory approval from the United States government for their merger earlier this month and now must only gain approval of MetroPCS shareholders to make the deal official.

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