MetroPCS jumps on reports of possible sale tal
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MetroPCS jumps on reports of possible sale talks
MetroPCS climbs on reports company is in talks with Deutsche Telekom about sale
– 14 hours ago NEW YORK (AP) -- Shares of MetroPCS Communications Inc. jumped Wednesday on a report the company is in talks to sell itself to Deutsche Telekom AG.
Bloomberg News reported Wednesday that Deutsche Telekom may acquire MetroPCS in an all-stock transaction, and combine MetroPCS with its T-Mobile USA division. It said Deutsche Telekom could pursue other companies or sell T-Mobile USA. Earlier this year Sprint Nextel Corp. reportedly considered buying T-Mobile.
MetroPCS and T-Mobile USA both declined to comment on the report.
Shares of MetroPCS rose $1.03, or 15.7 percent, to $7.59 in afternoon trading. Deutsche Telekom shares lost 2 cents to $8.54.
MetroPCS stock has dropped 45 percent since Feb. 24. The Dallas company reported disappointing first-quarter results in April, posting its smallest first-quarter profit in years and weak subscriber growth.
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