Hesse Wanted to Buy MetroPCS for $8 Billion, but the Board Said No
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
I’d prefer this than trying for a possible T-Mo sharing deal.
I’d prefer this than trying for a possible T-Mo sharing deal.
Sprint is very, very sneaky!
Buy Metro PCS and you already have LTE markets!
Buy Metro PCS and you already have LTE markets!
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.
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!!!!!!!!!!!!!!!!!
Seems like every year Sprin is th last carrier to get any new phone.
Amen! The hope of the nexus launching soon is the only thing keeping me on the carrier right now.