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MetroPCS CEO Continues Weekly Share Selloff

For the fourth week in a row, MetroPCS (NASDAQ: TMUS  ) Chairman and CEO Roger Linquist has reported selling at least 100,000 shares of his company's stock.

The most recent SEC filing, reporting a 100,000-share sale, was dated yesterday, the same day that MetroPCS received approval from the Federal Communications Commission for its merger with T-Mobile USA. A shareholder vote on the merger is set for April 12, when the deal could be derailed by opposition shareholders.

Just ahead of the FCC giving the go-ahead for the merger, MetroPCS sent a letter to stockholders urging them to ignore attempts to dissuade them from voting for the transaction. The letter was signed by Linquist, who still has direct control of more than 3.8 million shares and indirect control of 1.3 million.

If MetroPCS prevails in getting stockholder approval, it still has to get the Committee on Foreign Investment to sign off on the merger as T-Mobile is a subsidiary of German company Deutsche Telekom.

Including the most recently reported sale of 100,000 shares, Linquist has sold about 408,000 shares since mid-February.


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  • Report this Comment On March 13, 2013, at 2:29 PM, JohnnySunkel wrote:

    I'd get rid of as much of that stock as fast as I could too if I were him. PCS is a dog. Of the 8 stocks in the S&P 500 Telecommunications Services sector I have it ranked a distant 8th.

    For the record, I think CCI is the best stock in the sector.

    That's just my (respectful) $0.02.

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