FLASH: T-Mobile merger with MetroPCS approved by FCC
— Bloomberg News (@BloombergNews) March 12, 2013
This was the final regulatory hurdle for the acquisition, and both companies' boards have also officially endorsed the move. However, the proposal's future does remain uncertain at this point, as major shareholders at MetroPCS have voiced concerns over its financial soundness. MetroPCS's single largest shareholder, John Paulson, argues that MetroPCS would be more successful and valuable in the long term if it remained an independent company. Whether or not that's true is something no one can really know, but tactics like these are far from rare in merger negotiations. Mr. Paulson may be holding out for some preferred T-Mobile stock, or some other deal-sweetener.
We'll know when a special MetroPCS stockholder meeting convenes to approve or reject the deal on April 12th.