You already heard it earlier that T-Mobile was confirming discussions about a possible MetroPCS Communications, Inc. (NYSE: PCS) acquisition or merger. Now we have received a formal press release from MetroPCS about such merger discussions.
The company said, ""MetroPCS today confirmed that it is in discussions with Deutsche Telekom regarding an agreement to combine T-Mobile USA and MetroPCS. There can be no assurances that any transaction will result from these discussions, and the Company does not intend to comment further unless and until an agreement is reached."
MetroPCS Communications is seeing shares still up about 18% at $13.60 against a 52-week trading range of $5.53 to $12.48. As of 2:00 PM EST we have seen some 27 million shares trade hands.
JON C. OGG
Filed under: 24/7 Wall St. Wire Tagged: featured, PCS