P. Schoenfeld Asset Management LP responded to a letter sent to MetroPCS Communications Inc. (PCS) shareholders on March 25, 2013 by PCS Chairman and Chief Executive Officer Roger Linquist and the PCS Board of Directors.
In its response to the PCS letter, P. Schoenfeld Asset Management LP or PSAM said it corrected the many inaccuracies communicated to shareholders by the Company and raised additional questions that remain unanswered by PCS and its Board of Directors relating to PCS's proposed transaction with T-Mobile USA Inc, a wholly-owned subsidiary of Deutsche Telekom AG (DTEGY.PK).
PSAM noted that it encourages PCS shareholders to vote AGAINST the Proposed Transaction at the April 12, 2013 Special Meeting using the WHITE card provided with the proxy materials.
PSAM and its investment advisory clients together own shares of MetroPCS Communications valued at approximately $100 million at today's prices.
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