April 16, 2013 / 12:20 PM / 4 years ago

MetroPCS to cover activist shareholder's proxy expenses

April 16 (Reuters) - MetroPCS Communications Inc said on Tuesday it would reimburse activist shareholder P. Schoenfeld Asset Management about $2.8 million for expenses related to its proxy battle over MetroPCS's merger with T-Mobile USA, the U.S. business of Deutsche Telekom AG.

P. Schoenfeld Asset Management had headed a proxy battle against the merger that led to Deutsche Telekom sweetening the terms of the deal last week.

Shareholders are expected to vote on the deal on April 24.

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