Bloomberg News

MetroPCS Gains After CNBC Says Sprint Ended Takeover Discussions

February 27, 2012

Feb. 24 (Bloomberg) -- MetroPCS Communications Inc. rose in extended trading after CNBC reported that Sprint Nextel Corp. walked away from discussions for an $8 billion takeover of the wireless company.

MetroPCS, based in Richardson, Texas, rose as much as 11 percent after the report said Sprint was close to a deal that would have included a 30 percent premium. Sprint was little changed after briefly rising to $2.52.

To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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