Deutsche Telekom deputy CEO to head MetroPCS/T-Mobile USA board
NEW YORK, March 19
NEW YORK, March 19 (Reuters) - MetroPCS Communications Inc said on Tuesday that Deutsche Telekom's deputy chief executive and finance chief, Timotheus Hottges, would become chairman of its board after its proposed combination with T-Mobile USA.
After the deal, which still needs approval from MetroPCS shareholders, the company said it would have 11 directors with the majority coming from Deutsche Telekom, the parent company of T-Mobile USA.
MetroPCS agreed in October to a reverse merger with T-Mobile USA, but the deal faces a proxy battle from activist shareholders who have complained about the valuation.