je.st
news
Tag: deutsche
MetroPCS shareholders back new offer from Deutsche Telekom
2013-04-12 09:57:00| Telecompaper Headlines
(Telecompaper) Two of MetroPCS' major shareholders have withdrawn their opposition to the company's proposed merger with T-Mobile USA, after Deutsche Telekom improved the terms of the offer. Paulson & Co, the largest MetroPCS shareholder with a 9.9 percent stake, said that it "appreciates the substantial improvement to the terms", which include a USD 3.8 billion reduction in debt and 50 basis points reduction in the interest rate. Paulson said it will review its proxy statement for the AGM and intends to vote for the merger as restructured. P. Schoenfeld Asset Management (PSAM) also announced that it will withdraw its proxy solicitation campaign against the deal and not object to the proposed merger. PSAM said Deutsche Telekom had listened to the concerns of itself and other shareholders and improved the capital structure of the merger company. Under the new terms of the deal, it calculates pro forma net debt of 3.0 times EBITDA and a ratio of EBITDA minus capital expenditure to interest expense of 1.0 for the merged operators, which "conforms to what PSAM believes is necessary for a stable capital structure".
Tags: back
offer
deutsche
telekom
Infineon Technologies AG Rating Reiterated by Deutsche Bank
2013-04-12 04:28:03| Semiconductors - Topix.net
's stock had its "hold" rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Thursday, Analyst Ratings.Net reports.
Tags: rating
bank
technologies
deutsche
Dissenting MetroPCS shareholders approve Deutsche Telekom's revised offer
2013-04-12 02:00:00| Total Telecom industry news
P. Schoenfeld, Paulson & Co say sweetened deal offers better value for holders; vote to take place 24 April.
Tags: offer
deutsche
revised
approve
Deutsche Telekom offers 'best and final offer' to MetroPCS
2013-04-11 18:48:42| CNET News.com
The new offer is a response to the criticism some major MetroPCS shareholders have expressed over possible undervaluing. [Read more]
Deutsche Telekom improves terms of MetroPCS offer
2013-04-11 08:46:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom has improved the terms of its offer for US Mobile operator MetroPCS, in the hope of winning over shareholders before the upcoming vote on the deal. Under the terms of the existing agreement, T-Mobile USA would be contributed to the combined company with MetroPCS carrying shareholder loans of USD 15 billion. In its improved offer, Deutsche Telekom will reduce these loans by USD 3.8 billion to USD 11.2 billion, increasing the equity value of the combined company. Deutsche Telekom will also reduce the interest rate on the USD 11.2 billion of shareholder loans by 50 basis points. This lower rate reflects the new capital structure of the combined company, the improved capital markets environment in recent months, and the interest rate level of MetroPCS newly issued USD 3.5 billion of bonds priced in March, the company said. The lock-up period during which Deutsche Telekom is prohibited from publicly selling shares in the combined company has also been extended by 12 months to 18 months following close of the merger. The improved terms answer a concern among MetroPCS shareholders that the new company would be carrying too much debt. The cash element of the deal remains USD 1.5 billion to existing MetroPCS shareholders, who will hold 26 percent in the new company. As Deutsche Telekom will fully consolidate the merged company, the change in the capital structure has no impact on its leverage.
Tags: terms
offer
deutsche
telekom
Sites : [194] [195] [196] [197] [198] [199] [200] [201] [202] [203] [204] [205] [206] [207] [208] [209] [210] [211] [212] [213] next »