T-Mobile’s MetroPCS Merger Rejected by Advisory Firm ISS

Institutional Shareholder Services Inc., an investor advisory firm, recommended against T-Mobile USA Inc.’s merger with MetroPCS Communications Inc., dealing a blow to a transaction that lacks the support of MetroPCS’s biggest owner.

ISS said it opposed the deal because of unfavorable terms and the potential for MetroPCS to thrive as an independent company. MetroPCS could bolster its network by acquiring more wireless airwaves and it may be the target of additional merger offers in the future, the Rockville, Maryland-based firm said in a report. Investors are slated to vote on the proposed combination on April 12.