Sprint mulls MetroPCS bid

Investor's Business Daily

The board of wireless phone company Sprint Nextel (NYSE:S)was expected to meet Fri. to discuss a possible counterbid to Deutsche Telekom's (OTCPK:DTEGY) offer for MetroPCS (PCS). On Wed., MetroPCS agreed to merge with Deutsche Telekom-owned T-Mobile USA. The deal was a blow to Sprint, which in Feb. ended talks with No. 3 U.S. wireless carrier MetroPCS. Sprint and No. 4 T-Mobile USA have lost share to leaders AT&T (NYSE:T)and Verizon (VZ). MetroPCS shares fell 0.3% to 12.65 on Fri. Sprint rose 2.2% to 5.20. AT&T fell 0.1% to 37.86 and Verizon fell 0.7% to 47.05.

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