The fourth- and fifth-largest wireless providers, respectively, in the United States, are eager to join forces as they face competition from Verizon Wireless, AT&T and Sprint Nextel. The deal calls for T-Mobile USA's parent company, Germany's Deutsche Telekom, to own 74 percent of the combined company, while MetroPCS shareholders lay claim to the remainder.
Now the operators face one last hurdle: approval from the largest MetroPCS stock owners. At least one says the deal would put MetroPCS too far in debt and give Deutsche Telekom a better deal than MetroPCS would get. A shareholder vote is scheduled for April 12.
The T-Mobile-MetroPCS transaction comes after AT&T last year failed to secure regulatory approval for a purchase of T-Mobile.