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Sprint Nextel Corp. (S) abandoned plans to buy MetroPCS Communications Inc. (PCS), two people with knowledge of the matter said, walking away from a deal that might have helped the mobile-phone carrier vie with Verizon Wireless andAT&T Inc. (T)
The transaction would have valued MetroPCS at about $8 billion, said one of the people, who asked not to be identified because the discussions were private. It was rejected by Sprint’s board, this person said. The transaction included a 30 percent premium, CNBC reported yesterday.
The transaction would have valued MetroPCS at about $8 billion, said one of the people, who asked not to be identified because the discussions were private. It was rejected by Sprint’s board, this person said. The transaction included a 30 percent premium, CNBC reported yesterday.