MetroPCS shareholders vote to approve deal with T-Mobile USA

RICHARDSON, Texas, April 24 Wed Apr 24, 2013 9:47am EDT

RICHARDSON, Texas, April 24 (Reuters) - MetroPCS Communications Inc shareholders on Wednesday voted to approve a combination with No. 4 U.S. wireless service provider T-Mobile USA, after T-Mobile parent Deutsche Telekom AG sweetened its terms under pressure from activist shareholders.

Activist shareholder P. Schoenfeld Asset Management had led a proxy battle against the original deal, while biggest MetroPCS shareholder Paulson & Co had also threatened to vote against it. Both investors have said they were happy with the improved terms.