ISS tells MetroPCS shareholders to vote against T-Mobile deal

NEW YORK Wed Mar 27, 2013 10:06pm EDT

Traders work on the floor of the New York Stock Exchange near the post that trades Sprint and MetroPCS, October 11, 2012. REUTERS/Brendan McDermid

Traders work on the floor of the New York Stock Exchange near the post that trades Sprint and MetroPCS, October 11, 2012.

Credit: Reuters/Brendan McDermid

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NEW YORK (Reuters) - Influential proxy advisory firm ISS recommended on Wednesday that shareholders of MetroPCS Communications Inc PCS.N vote against its proposed merger with T-Mobile USA, a unit of Deutsche Telekom (DTEGn.DE), potentially swaying some shareholders' votes in that direction.

U.S. regulators have given their blessing to the deal but it cannot close without approval from MetroPCS shareholders. ISS's advice came after T-Mobile USA Chief Executive John Legere said on Tuesday he expects shareholders to approve the deal.

(Reporting Edwin Chan; Reporting by Stephen Coates)

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