Sunday, 24 July 2016
Last updated 1 day ago
Mar 28 2013 | 9:14am ET
Paulson & Co. is defending itself against accusations that its greed is fueling its opposition to T-Mobile's acquisition of MetroPCS Communications.
The New York-based hedge fund said it strenuously objects to T-Mobile CEO John Legere's Tuesday comment that the merger will be approved, "despite the several greedy hedge funds that are trying to take a double dip out of that process."
Paulson and P. Shoenfeld Asset Management have argued vociferously against the deal, saying it is a bad one for MetroPCS shareholders, with T-Mobile owner Deutsche Telekom getting the "lion's share of the benefits."
Paulson owns about 9.9% of MetroPCS.