Influential proxy advisory firm ISS recommended on Wednesday that shareholders of MetroPCS Communications Inc vote against its proposed merger with T-Mobile USA, a unit of Deutsche Telekom, potentially swaying some shareholders' votes in that direction. U.S. regulators have given their blessing to the deal but it cannot close without approval from MetroPCS shareholders. ISS's advice came after T-Mobile USA Chief Executive John Legere said on Tuesday he expects shareholders to approve the deal.
MetroPCS Communications, Inc. (MetroPCS Communications) is a wireless telecommunications carrier, which offers wireless broadband mobile services primarily in selected metropolitan areas in the United States, including the Atlanta, Boston, Dallas/Fort Worth, Detroit, Las Vegas, Los Angeles, Miami, New York, Orlando/Jacksonville, Philadelphia, Sacramento, San Francisco and Tampa/Sarasota metropolitan areas. Shares of PCS fell by 1.31% or $-0.14/share to $10.53. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 6358490 shares of PCS exchange hands on a given day and today's volume is recorded at 3761265.
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