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MetroPCS (PCS -1.6%) is "holding conversations with a number of strategic suitors," a source...

  • Friday, September 28, 2012, 11:58 AM ET
    MetroPCS (PCS -1.6%) is "holding conversations with a number of strategic suitors," a source tells the FT, while cautioning the talks shouldn't be viewed as negotiations at this point. Shares are nonetheless trading lower, likely because M&A rumors (I, II) surrounding MetroPCS and fellow discount carrier Leap Wireless (LEAP -0.7%) are nothing new. Sprint (S), which reportedly came close to buying MetroPCS earlier this year, is said to be "not fully engaged" in conversations.
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    What exactly does "not fully engaged" in conversations mean. Are they talking out of the side of there mouth? Could it be another suitor? Is a dish in the future? Stay tuned.
    28 Sep 2012, 12:03 PM Reply Like
  •  
    My guess is it means Sprint is staying in touch with PCS in order to keep abreast of what other potential buyers are doing, but isn't serious about making a bid right now.

    After the showdown Hesse reportedly had with Sprint's board this year, Sprint's management could be nervous about making an offer without board changes or a major drop in PCS' stock price.
    28 Sep 2012, 12:30 PM Reply Like
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