Sprint Nextel Corp, the No. 3 U.S. mobile service provider, said that it talked to four different companies about a potential deal before it announced its agreement to sell 70 percent of its shares to Japan's SoftBank Corp for $20 billion. Sprint said in its proxy filing on Monday that it had talks with a company it referred to as company W between September 2011 and February 2012 about a potential combination but the talks did not result in a deal. It was likely referring to discussions with MetroPCS Communications, which Sprint came close to buying for $8 billion including debt last year, according to sources.From May through September 2011, Sprint said that it had talks with another company it referred to as company X about a deal in which Sprint would acquire additional spectrum and that company's shareholders would receive substantial equity in Sprint. The pair would also enter other commercial arrangements.In May 2012, Sprint said that it started talks with "company Y" regarding a potential combination with Sprint, after previously having discussed a potential business combination and a joint venture. Those discussions continued from time to time through September but ultimately did not lead to a deal, Sprint said.After it started talks with Softbank in July last year, Sprint said that they had conceptual discussions about "a potential three-party transaction among Sprint, SoftBank and Company Y".
MetroPCS Communications, Inc. provides wireless personal communication services. Shares of PCS traded higher by 0.1% or $0.01/share to $9.90. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 7271680 shares of PCS exchange hands on a given day and today's volume is recorded at 6593940.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S traded higher by 0.88% or $0.05/share to $5.74. In the past year, the shares have traded as low as $2.20 and as high as $6.04. On average, 37281100 shares of S exchange hands on a given day and today's volume is recorded at 61979220.
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