MetroPCS (PCS -5.8%) dives after Bloomberg reports Sprint (S +0.8%) is "holding off on an...

|By:, SA News Editor

MetroPCS (PCS -5.8%) dives after Bloomberg reports Sprint (S +0.8%) is "holding off on an immediate counterbid," and wants to look at Deutsche Telekom's regulatory filing for the MetroPCS/T-Mobile deal (expected in a month or two) before making a move. Sprint reportedly offered $8B (including debt) for MetroPCS, which currently has a market cap of $4.3B and $2.4B in net debt, earlier this year. Since then, Sprint's shares have surged, possibly enabling an offer with less equity dilution.