MetroPCS shareholders looking to block Deutsche Telekom’s acquisition of the carrier
Posted in: Today's Chili
While the board of executives from both Deutsche Telekom and MetroPCS have given the deal their blessing, we guess there were some shareholders who weren’t too pleased about it. It seems that some of MetroPCS’ shareholders have filed a lawsuit against T-Mobile USA, Deutsche Telekom (T-Mobile USA’s parent company), and MetroPCS for apparently undervaluing the company.
The deal is expected to bump share prices to $12.48, which apparently the shareholders of MetroPCS feel is too low since a stock analyst has recently pegged MetroPCS’ shares to hit $18. The plaintiffs of the lawsuit are also claiming that the deal was made so that only Deutsche Telekom could bid on MetroPCS and essentially blocks other parties from attempting to make a bid of their own. (more…)
By Ubergizmo. Related articles: MetroPCS said to be frontrunner in buying AT&T’s assets, T-Mobile/MetroPCS merger expected to be completed by June 2013,
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