MetroPCS Communications Inc urged shareholders to support its proposed merger with Deutsche Telekom AG's unit T-Mobile USA after two proxy advisory firms recommended that shareholders vote against it.Proxy advisers Glass Lewis and ISS have backed efforts by two key activist investors to block the deal by recommending that shareholders vote against it at a special meeting on April 12.MetroPCS said in a letter to shareholders on Monday there could be no assurance it would be able to deliver better shareholder value as a stand-alone wireless company.But the company's shares closed up 1 percent on Monday as at least some investors bet that the advisory firm's recommendations could lead to a better 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 traded higher by 1.38% or $0.15/share to $11.05. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 6636980 shares of PCS exchange hands on a given day and today's volume is recorded at 5824254.
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