P. Schoenfeld Asset Management issues letter to MetroPCS shareholders

theflyonthewall.com

"As we have expressed before, we are strongly opposed to the proposed combination between MetroPCS and T-Mobile. The Transaction, under its current terms, is grossly unfair to MetroPCS shareholders and is irresponsibly and inefficiently structured. Most importantly, it does not represent full and fair value for our collective investment in the Company. We have been heartened to see that other major shareholders, including Paulson, the largest MetroPCS shareholder, owning 36.3 million shares or 9.9% of the shares outstanding as of the record date, intend to also vote against the TM Deal. PSAM WILL SOON ISSUE A WHITE PAPER ON THE TRANSACTION"

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