T-Mobile and MetroPCS receive all necessary regulatory approvals for mergerAlex Wagner - Deputy Managing Editor, News Desk
T-Mobile's proposed acquisition of MetroPCS is nearing completion, as the two companies announced today that the deal has received all of its necessary regulatory approvals. The final hurdle that the merger needed to clear was the Committee on Foreign Investment, and it did just that yesterday, with the government agency determining that there it has no national security concerns related to this deal. The deal was approved by the U.S. Department of Justice and the FCC earlier in March.
Now that the T-Mobile-MetroPCS merger has gained all of the regulatory approval that it needs, the deal must be given the green light by MetroPCS's shareholders. The company will be hosting a shareholder meeting on April 12 at which its investors will cast their vote on the matter. Unsurprisingly, MetroPCS is urging all of its shareholders to vote in favor of the merger. A couple of large entities have already voiced their opposition to the T-Mobile-MetroPCS deal, though, including Paulson & Co., a hedge fund that's Metro's largest shareholder. Both T-Mobile and MetroPCS are still optimistic that the merger will go through, saying that they expect it to close shortly after the MetroPCS meeting.