Feb 7 An investment adviser to shareholders
holding about 7.5 million shares of MetroPCS Communications Inc
said it intends to vote against the company's proposed
merger with T-Mobile USA.
The shares held by clients of P. Schoenfeld Asset Management
LP (PSAM) represent about 2 percent of MetroPCS's outstanding
shares, based on an Oct. 19 regulatory filing.
PSAM said it sent a letter to the boards of MetroPCS and
Deutsche Telekom AG, which owns T-Mobile, on Jan. 30
informing them of its decision.
MetroPCS agreed to merge with T-Mobile USA in October, with
Deutsche Telekom taking a 74 percent stake in the combined
In its letter, PSAM said, "it would be better for PCS to
remain a stand-alone company while examining opportunities to
consummate alternative transactions."