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

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.
Comments (2)
  • bd4uandu
    , contributor
    Comments (1795) | Send Message
     
    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
  • SA Editor Eric Jhonsa
    , contributor
    Comments (753) | Send Message
     
    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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