MetroPCS sent a letter to its shareholders Monday, urging them to vote to pass the merger when the vote is expected on April 12. The company wrote that there could be “no assurance that it would be able to deliver better shareholder value as a stand-alone wireless company,” Reuters reported.
This comes in response to top advisory firms recently opposing the proposed merger between the two companies.
It has been more than four months since T-Mobile announced its intentions to merge with MetroPCS. T-Mobile plans to issue a $1.5 billion cash payment as part of the deal, and give MetroPCS shareholders a 26 percent ownership in the new entity.
If approved, the transaction would combine T-Mobile with MetroPCS, which directly employs 3,700 people to service about 9.3 million customers. T-Mobile employs about 36,000 in the U.S., with 4,800 people here in Washington.
T-Mobile has made several headlines in the past week, as the carrier announced it will be receiving the iPhone 5 later this month along with a new payment plan.
Previously on GeekWire: T-Mobile confirms layoffs as part of ‘operational changes’