$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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.