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Hesse Wanted to Buy MetroPCS for $8 Billion, but the Board Said No

Posted In Featured, News - By Mark Hearn On Friday, February 24th, 2012 4:34pm PDT With 9 Comments

Sprint’s CEO Dan Hesse may have spent the bulk of 2011 fighting AT&T’s attempt to buy T-Mobile USA, but a recent report is stating that during this period Sprint was cooking up a deal to acquire MetroPCS for around $8 billion. CNBC’s Dave Faber stated that Hesse gave the deal a thumbs up, but was shot down by Sprint’s board of executives.

During Sprint’s recent Q4 conference call Hesse stated that Sprint “would consider transactions and partnerships that were beneficial to shareholders,” and it appears that he wasn’t kidding. Considering Clearwire’s money issues and LightSquared’s recent run-ins with the FCC, it’s not unreasonable to think that Sprint had other ideas in their pipeline.¬†Though it’s uncertain what led to this deal’s demise, it definitely suggests that Hesse and the gang are thinking outside of the box.

 

Source: David Faber 1, 2

via: Engadget

About - Mark is the founding father of SprintFeed. He is a nerd's nerd if ever such a thing existed. His love affair with the Now Network started with the release of the Treo 600 back in 2004 and has been going strong ever since. Highly opinionated and somewhat eccentric he shares his ramblings about his network of choice here at SprintFeed.

Displaying 9 Comments
Have Your Say

  1. vrystaat says:

    I’d prefer this than trying for a possible T-Mo sharing deal.

  2. vrystaat says:

    I’d prefer this than trying for a possible T-Mo sharing deal.

  3. 19GA78 says:

    Sprint is very, very sneaky!

  4. Steve Smith says:

    Buy Metro PCS and you already have LTE markets!

  5. Steve Smith says:

    Buy Metro PCS and you already have LTE markets!

  6. ChadBroChillz says:

    Tmo already announced LTE will be on their 1700 band, not their 1900mhz band.

    I am glad they backed down from the Metro deal. they would have gained access to 1700mhz spectrum with no use for it. Metro LTE sucks.

    Smarter deal would have been take the 8 billion and buy back the rest of clear from the investors at a huge discount, then add TD-LTE 2500mhz to every NV tower. Google is selling its 500mil investment for 47mil and that 47mil would be 6.5% of clear. add that to sprint’s 54%, and sprint would own over 60%

    Also take 1-2 billion and buy the PCS H block from the FCC next spectrum sale. they could combine it with their G block and create a 10×10 configuration instead of 5×5.

  7. John says:

    what Hesse needs to do is get his ass in gear and release the G-Nex already. we have NOTHING to buy and NOTHING to upgrade to!!!!!!!!!!!!!!!!!

  8. Seems like every year Sprin is th last carrier to get any new phone.

  9. Dj Hidro says:

    Amen! The hope of the nexus launching soon is the only thing keeping me on the carrier right now.

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