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News Breaks | | | | March 1, 2013 | | 10:52 EDT |  | PLCC, DTEGY, PCS | Paulson Capital intends to vote against the MetroPCS/T-Mobile transaction
Paulson (PLCC) sent the following letter to the Boards of MetroPCS (PCS) and Deutsche Telekom AG (DTEGY): "Paulson & Co., the largest MetroPCS shareholder, owning 36.3M shares or 9.9% of the shares outstanding as of the record date, intends to vote against the MetroPCS/T-Mobile transaction. While we believe in the strategic merits of the proposed combination, Paulson believes the pro forma company has too much debt at too high an interest rate to be competitive in the well-capitalized U.S. wireless industry. The highly levered pro forma equity creates disproportionate risk for MetroPCS shareholders, while the majority of the value is extracted by Deutsche Telekom through $15B of intercompany debt (“DT Notes”). Given this significant equity handicap, we believe MetroPCS is worth more as a stand-alone company as it will be free to pursue its successful stand-alone strategy while examining opportunities for higher value strategic transactions." | |
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News For PLCC;PCS;DTEGY From The Last 14 Days Check below for free stories on PLCC;PCS;DTEGY the last two weeks. |
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| May 21, 2013 | | 07:32 EDT |  | DTEGY | CTIA–The Wireless Association to host a conference
 Subscribe for More Information | | | May 19, 2013 | | 18:10 EDT |  | DTEGY | Falling prices in European telecom stocks give value to investors, Barron's says
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