MetroPCS Communications Inc urged shareholders to vote for its proposed merger with Deutsche Telekom AG unit T-Mobile USA Inc after two proxy advisory firms recommended that MetroPCS shareholders hold out for a better offer. Under the terms of the reverse merger announced in October, Deutsche Telekom would end up with 74 percent of the combined company, and MetroPCS would declare a 1-for-2 reverse stock split and pay $1.5 billion in cash to its shareholders.
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 remained unchanged at $10.90. 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 0.
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