Largest MetroPCS Shareholder Angry at Being Called "Greedy"

Paulson & Co., holder of 9.9% of MetroPCS (NYSE: TMUS  ) stock, issued a press release today stating it "strenuously objects" to T-Mobile USA CEO John Legere's characterization of it and other of the carrier's shareholders "as greedy because they believe the current terms of the merger are poor for MetroPCS shareholders.

Legere was asked at a T-Mobile event on Tuesday about the prospects of his company's proposed merger with MetroPCS. "It will be approved," he answered, "despite the greedy hedge funds that are trying to take a double-dip out of that process."

Paulson's response to that in its press release was to remind "MetroPCS shareholders that John Legere owns no MetroPCS stock, wants the best deal for T-Mobile/Deutsche Telekom, not MetroPCS, and is the wrong person to comment on the interests of MetroPCS shareholders."

Paulson continued: "If anyone is being greedy here, it is Deutsche Telekom by stripping out $15 billion of senior debt at above market rates and terms for themselves before the pro forma shareholders get anything. ... It is not surprising that Deutsche Telekom is so eager to close this deal, as they get the lion's share of the benefits."

Deutsche Telekom is the parent company of T-Mobile USA.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2335650, ~/Articles/ArticleHandler.aspx, 9/30/2014 12:20:39 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement