PSAM Withdraws Proxy Solicitation Campaign Following Revised Offer For MetroPCS/T-Mobile Transaction

    PSAM Withdraws Proxy Solicitation Campaign Following Revised Offer For
                        MetroPCS/T-Mobile Transaction

- Revised offer followed overwhelming support for PSAM proxy

- New offer provides PCS shareholders better value and conforms to PSAM
capital structure recommendations

PR Newswire

NEW YORK, April 11, 2013

NEW YORK, April 11, 2013 /PRNewswire/ -- P. Schoenfeld Asset Management LP
("PSAM") today announced that subject to reviewing the revised proxy materials
it will withdraw its proxy solicitation campaign and not object to the
proposed MetroPCS Communications, Inc. ("PCS" or the "Company") and T-Mobile
USA, Inc. ("T-Mobile") merger, now that Deutsche Telekom has provided a
revised offer that improves the value PCS shareholders will receive in the
transaction.

"We sincerely appreciate the decision PCS shareholders made by an overwhelming
margin to reject the original proposed transaction terms and demand better
value," said PSAM in response to Deutsche Telekom's revised offer.

Deutsche Telekom's revised offer includes a $3.8 billion reduction in the
Deutsche Telekom AG Notes ("DT Notes" or the "Notes"), a reduction in the
interest rate on the DT Notes by 50 basis points, and an extension of the
lock-up period to 18 months after the transaction closes. These changes are
consistent with the original letter PSAM sent to the PCS and Deutsche
Telekom's Boards of Directors on January 30, 2013 and the PSAM white paper
dated March 18, 2013. Taken together, the pro forma capital structure implies
a net-debt-to-EBITDA ratio of 3.0 times, and a ratio of EBITDA minus capital
expenditure to interest expense of 1.0 time, which conforms to what PSAM
believes is necessary for a stable capital structure for the combined
company.

PSAM was also encouraged by Deutsche Telekom's decision to extend the lock-up
period to 18 months, which it feels better reflects a commitment to the
combined company's business strategy.

"While the revised transaction terms do not reflect all the improvements we
were seeking, we feel our central goal of making the combined PCS/T-Mobile
company more competitive and valuable for all shareholders, including Deutsche
Telekom, resulted in obtaining superior value for PCS shareholders and believe
that these revised terms are the best available alternative for PCS
shareholders at this time," said PSAM.

On March 12, 2013, P. Schoenfeld Asset Management LP, P. Schoenfeld Asset
Management GP LLC and Peter M. Schoenfeld (collectively, the "PSAM Group")
filed with the Securities and Exchange Commission (the "SEC") a definitive
proxy statement (the "Definitive Proxy Statement") relating to the
solicitation of proxies by the PSAM Group from stockholders of MetroPCS
Communications, Inc. ("MetroPCS") in connection with the special meeting of
stockholders to be held on April 12, 2013 to vote upon matters relating to the
proposed combination of MetroPCS with T-Mobile USA, Inc. STOCKHOLDERS OF
METROPCS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS
FILED WITH THE SEC RELATING TO SUCH SOLICITATION CAREFULLY IN THEIR ENTIRETY
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO
THE PARTICIPANTS IN SUCH SOLICITATION. The Definitive Proxy Statement and form
of WHITE proxy card will be furnished to some or all of the stockholders of
MetroPCS and will, along with other relevant documents filed with the SEC, be
available free of charge at the SEC's website at http://www.sec.gov. In
addition, the PSAM Group will provide copies of the Definitive Proxy Statement
and accompanying WHITE proxy card without charge upon request.

About PSAM
P. Schoenfeld Asset Management LP ("PSAM") was founded by Peter M. Schoenfeld
and has been providing investment advisory services since 1997. PSAM invests
on behalf of its clients in both equity and credit securities in global event
driven opportunities, including: international consolidations, corporate
restructurings, spin-offs, divestitures, and stressed and distressed credits.
PSAM is based in New York and is registered with the SEC and has an affiliate
located in London which is authorised and regulated by the FSA.

For Investor Inquiries:
Arthur Crozier/Scott Winter
Innisfree M&A Incorporated
(212) 750-5833

For Media Inquiries:
Steve Bruce/Catherine Jones
ASC Advisors
(203) 992-1230

SOURCE P. Schoenfeld Asset Management LP (PSAM)