Sprint Nextel Corp is unlikely to make a counter offer for MetroPCS Communications Inc , as the third-largest U.S. wireless company focuses on closing its agreed $20.1 billion deal with Japan's Softbank Corp , three people familiar with the matter said on Monday. Sprint thinks that making a bid for MetroPCS, which agreed to a takeover by Deutsche Telekom AG's T-Mobile U.S.A, would complicate the ongoing regulatory review of its deal with Softbank, the people said.Sprint, however, remains interested in U.S. consolidation and may revisit a potential deal after it secures approval for the proposed investment by Softbank, the people said. The people asked not to be named because the matter is not public.Representatives for Softbank and Sprint declined to comment.
MetroPCS Communications, Inc. (MetroPCS Communications) is a facilities-based wireless broadband mobile communications provider in the United States, including the Atlanta, Boston, Dallas/Fort Worth, Detroit, Las Vegas, Los Angeles, Miami, New York, Orlando/Jacksonville, Philadelphia, Sacramento, San Francisco, and Tampa/Sarasota metropolitan areas. Shares of PCS traded higher by 1.13% or $0.12/share to $10.77. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 13257800 shares of PCS exchange hands on a given day and today's volume is recorded at 4653844.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.17% or $-0.01/share to $5.72. In the past year, the shares have traded as low as $2.10 and as high as $6.04. On average, 70756000 shares of S exchange hands on a given day and today's volume is recorded at 23581838.
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