MetroPCS jumps on renewed takeover speculation involving Sprint, other suitors
09/27/2012 4:36 PM
05/16/2014 7:49 PM
MetroPCS Communications Inc., the Texas-based prepaid wireless carrier, rose as much as 9.8 percent after DealReporter said the company has held talks with suitors such as Sprint Nextel Corp. and Dish Network Corp.
MetroPCS rose 6.5 percent to $11.98. The shares, already up 30 percent this year, climbed as high as $12.35 earlier today.
Deutsche Telekom AG’s T-Mobile USA business participated in talks with MetroPCS, DealReporter said, citing an unnamed source familiar with the matter. Some of the talks are ongoing, the publication reported.
Jason Armstrong, an analyst at Goldman Sachs Group Inc., said earlier this month that it might make sense for Overland Park-based Sprint to buy MetroPCS or its prepaid rival Leap Wireless International Inc. Such a transaction would be easier to complete than Sprint buying T-Mobile, the fourth-largest U.S. mobile-phone service. Sprint ranks third in the market, behind Verizon Wireless and AT&T Inc.