Sprint reportedly backs off counteroffer for MetroPCS
Just after T-Mobile announced its merger agreement with MetroPCS last week, we started hearing rumblings that Sprint (S) was poised to make a compelling counteroffer that would get MetroPCS to break off its deal with T-Mobile and merge with Sprint instead. But now unnamed sources tell Bloomberg that Sprint is at least temporarily backing away from its plans “to gain time to scrutinize the carrier’s planned combination with T-Mobile.” This doesn’t mean Sprint is leaving the table all together, however, since Bloomberg says the company “may have as much as three months to bid before MetroPCS investors vote on the T-Mobile deal,” so it’s entirely possible that Sprint could swoop in to gobble up MetroPCS at a later date.
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