Sprint may try to counter T-Mobile with new MetroPCS offer
Despite the fact that MetroPCS (PCS) officially accepted T-Mobile’s offer to merge, Sprint (S) may attempt to counter T-Mobile’s offer with a more appealing one, according to a report from Business Week. The company is said to be crunching numbers and holding talks with its advisors to evaluate the price of MetroPCS. The nation’s third-largest carrier nearly purchased MetroPCS earlier this year before Sprint’s board vetoed the offer. The carrier reportedly began reevaluating an offer a few weeks ago, prior to T- Mobile’s deal being made public, and could have a decision as early as next week. The breakup fee could potentially hinder a counter off from Sprint, however: If T-Mobile pulls away from the deal it must pay MetroPCS $250 million, and if MetroPCS backs out it will pay T-Mobile $150 million. T-Mobile is said to be ready for Sprint’s counter bid and is willing to offer better terms if necessary.
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