DT explores sofa, finds cash to ease T-Mobile/MetroPCS merger
DT shareholders must be wondering just what they have to do to offload T-Mobile. First came the aborted AT&T takeover - blocked by regulators. Now it's a case of bleating shareholders at MetroPCS, holding out for more.
According to a report by Reuters, DT has agreed to lower the debt burden the new entity would carry after the merger by $3.8 billion - down to $11.2 billion; and it's improved the interest rates on the loans it will leave the new company carrying.
Other terms will be unchanged: 74 per cent of the new entity will remain the property of DT. The balance will be left with MetroPCS shareholders along with a cash sweetener of $1.5 billion.