Opposition to T-Mobile USA Inc.’s merger with MetroPCS Communications Inc. is gaining momentum leading up to next week’s vote after two of three shareholder advisory firms recommended blocking the deal.
P. Schoenfeld Asset Management LP, a MetroPCS investor that has led a challenge to the deal, scheduled a webcast for April 4 to explain its position to other shareholders in the wireless carrier. Institutional Shareholder Services and Glass, Lewis & Co. came out against the transaction last week, while Egan-Jones Proxy Services was in favor.
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