Paulson Opposes 'Unfair' $1.5B MetroPCS, T-Mobile Merger

Law360, New York (March 1, 2013, 2:03 PM EST) -- New York hedge fund Paulson & Co. Inc., the largest shareholder in MetroPCS Communications, said Thursday that it will vote against the firm's proposed $1.5 billion merger with T-Mobile USA Inc. because the deal unfairly benefits T-Mobile owner Deutsche Telekom AG.

As currently structured, the merger would saddle the new wireless company with $23.2 billion in debt, including capital leases, which would make MetroPCS/T-Mobile unsustainably over-leveraged, Paulson said.

"This enormous amount of debt puts MetroPCS/T-Mobile at a significant disadvantage in competing against industry peers and creates enormous...
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