Paulson & Co. Responds to Deutsche Telekom's Improved Offer for MetroPCS
NEW YORK, April 11, 2013 /PRNewswire/ -- Paulson & Co. Inc. ("Paulson"), the largest MetroPCS shareholder, owning 36.3 million shares or 9.9% of the shares outstanding as of the record date, today stated that it appreciates the substantial improvement to the terms of Deutsche Telekom's offer for MetroPCS.
Paulson thanks Deutsche Telekom for its willingness to consider the views of MetroPCS shareholders and adjust the consideration to the benefit of all shareholders.
Paulson believes the $3.8 billion reduction in debt combined with the 50 basis points reduction in interest rate are material improvements for MetroPCS shareholders and strengthen the pro forma company.
While Paulson needs to review the revised proxy statement before making a final decision, Paulson intends to vote for the merger as restructured.
For further information, please contact:
Armel Leslie, Walek & Associates, +1-212 590-0530
Paulson & Co. is an investment management firm that specializes in merger arbitrage, event-driven and distressed investing. Paulson has approximately US$18 billion in assets under management and has offices in New York, London and Hong Kong.
SOURCE Paulson & Co. Inc.