MetroPCS shareholders approve T-Mobile offer

[Omaha Steve]

Source: AP-Excite

By PETER SVENSSON

NEW YORK (AP) - MetroPCS Communications Inc. (PCS) (PCS), the country's fifth-largest cellphone carrier, said its shareholders have overwhelmingly approved the company's takeover by No. 4 T-Mobile USA.

Wednesday's approval was expected after T-Mobile sweetened its bid and major shareholders withdrew their objections. T-Mobile's initial offer was approved by MetroPCS' board, but shareholders and shareholder advisory firms called it inadequate.

Nick Lamplough, a spokesman for MetroPCS, said shareholders voted for the deal at their special meeting in Richardson, Texas, on Wednesday morning.

MetroPCS said the deal is expected to be completed next Tuesday.

FULL story at link.


Read more: http://apnews.excite.com/article/20130424/DA5S1EU00.html

[L0oniX]

1. You're gonna see a flood of people leaving Metro.

[Xithras]

2. Why?

Been a TMo customer for years. No complaints. I've had far fewer customer service and network problems with them than I have had with AT&T or Verizon.

The only real problem with TMo is their coverage. 4G coverage tends to be really good in low rise cities, middling in high rise cities, and appallingly bad in rural areas. Their LTE network is blazing fast, but it's only available in a handful of cities.

But if someone is aleady a Metro customer, and TMo is simply picking up the existing Metro infrastructure, I don't see how existing Metro customers would lose anything. They'd still have access to the same towers and coverage they are already using.

[L0oniX]

3. Yea like they won't raise prices ...I pay $40 a month 4G unlimited minutes and text plus 1 gig data.

[Xithras]

4. That's a possibility.

TMo's current "cheap" plan is about $10 higher. $50 a month for 4G unlimited minutes and text, plus 2 gigs of 4G data and unlimited 2G data.

[brooklynite]

5. Actually they won't...

TMo is trying to position itself as a lower-cost, contract-free alternative to AT&T and Verizon. Raising prices now would damage their momentum.

[L0oniX]

7. ...unless they are going to Romney/Bain Metro. Cut staff and services, raise prices, show profit,...

take a huge bonus ...then close up shop to eliminate what was their competition.

[brooklynite]

8. Here's a hint: T-Mobile isn't a Venture Capital firm

[L0oniX]

9. Doesn't mean they won't do the same thing. Shill for T-Mobile much?

[brooklynite]

10. Don't need to...

...given the lack of any evidence that this is TMo's business plan or past pattern.

[Sen. Walter Sobchak]

6. MetroPCS spent 2012 hemorrhaging customers,

Wal-Mart and America Movil backed Straight Talk are eating their lunch.