MetroPCS Communications Inc. is being pressured to update the merger documents for its pending deal with the Deustche Telekom AG's unit T-Mobile USA to reflect T-Mobile's earnings.
P. Schoenfeld Asset Management, which owns about 2% of MetroPCS shares, told Reuters in a statement that it hopes the year-end results of both MetroPCS and T-Mobile released last week could be incorporated in their updated proxy financials.
On February 26, many investors raised their eyebrows when the U.S. Securities and Exchange Commission published the final documents for the merger, two days before Deutsche Telekom posted the results of its earnings which fell 13% in operating profit as it struggles in its German and European mobile market.
MetroPCS also reported last week a decline in its quarterly net profit by 65% as it sees sluggish revenue growth for the eighth straight quarter.
Meanwhile, shareholder Paulson, with 9.9 percent stake, said that the merger company resulting from the deal would make it hard to compete, expecting too much debt with higher interest rate.
Both MetroPCS and T-Mobile have not yet commented on the matter.
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