$4B Debt Cut Wins Fund Support For MetroPCS, T-Mobile Deal

Law360, Los Angeles (April 11, 2013, 5:02 PM EDT) -- Two hedge funds threatening to block T-Mobile USA Inc.'s $1.5 billion merger with MetroPCS Communications Inc. said Thursday that they would drop their opposition after T-Mobile parent company Deutsche Telekom AG cut nearly $4 billion from the debt that will be transferred to the new company.

Paulson & Co. Inc. — whose 9.9 percent stake in MetroPCS makes it the company's largest shareholder — said it would vote in favor of the restructured merger, while P. Schoenfeld Asset Management LP said it would withdraw its shareholder...
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