CNBC: Sprint Board Nixed MetroPCS Acquisition at Last Minute
Feb 24, 2012, 6:01 PM by Eric M. Zeman
Sprint's board of directors apparently pulled the plug on an $8 billion acquisition of regional carrier MetroPCS "hours" before the deal was to be announced. CNBC reports that Sprint and MetroPCS had been working on the deal for months, and that Sprint CEO Dan Hesse had signed off on the deal. CNBC didn't say why Sprint's board killed the acquisition. Sprint is the nation's third-largest operator and is in the middle of a vast network transition. Acquiring MetroPCS could have given Sprint more spectrum assets.
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