RICHARDSON, Texas, March 1, 2013 /PRNewswire/ -- MetroPCS Communications, Inc. (NYSE: PCS; "MetroPCS") today announced that it has moved the Special Meeting of MetroPCS stockholders to vote on matters relating to the proposed combination of MetroPCS with T-Mobile USA, Inc. ("T-Mobile") to April 12, 2013 at 8:00 a.m. Central Time. MetroPCS stockholders of record at the close of business on March 11, 2013 are entitled to vote at the Special Meeting. The date of the Special Meeting was changed to correct an administrative error. MetroPCS now expects the proposed combination with T-Mobile to be completed shortly following the meeting of stockholders. The Company believes that the new Special Meeting date will provide additional time for MetroPCS stockholders to review the Company's full year financial results on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 1, 2013, and to consider the compelling benefits of the proposed combination with T-Mobile to create the leading value carrier in the United States. MetroPCS intends to submit an amended proxy statement to the SEC in connection with the April 12, 2013 Special Meeting. The MetroPCS board unanimously recommends that stockholders vote their shares FOR all of the proposals relating to the proposed combination with T-Mobile by returning the GREEN proxy card they will receive in due course with a "FOR" vote for all proposals. The failure to vote or an abstention has the same effect as a vote against the proposed combination. If stockholders vote against the proposed combination, there is no assurance that MetroPCS will be able to deliver the same or better stockholder value. The Company urges stockholders to discard any white proxy cards, which were sent by a dissident stockholder. If a stockholder previously submitted a white proxy card, the Company urges them to cast their vote as instructed in the GREEN proxy card, which will revoke any earlier dated proxy card that was submitted, including any white proxy card.
MetroPCS Communications (NYSE:PCS) hit a new 52-week high Thursday as it is currently trading at $16.62, above its previous 52-week high of $14.51 with 155,204 shares traded as of 9:31 a.m. ET. Average volume has been 10.6 million shares over the past 30 days.