MetroPCS (PCS) Higher As Takeover Talk Grows
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Shares of MetroPCS Communications (NYSE: PCS) are higher today on speculation it could be the target of a takeover bid. This comes after last week's chatter than MetroPCS could revive its own bid for Leap Wireless (Nasdaq: LEAP). Shares of PCS are up 7% today.
With all the chatter, people feel that a deal is imminent for one of the two companies or both.
Reuters is reporting that America Movil could be interested in Leap and Deutsche Telekom could be interested in MetroPCS. Or the two could merge, which they tried to pull off in 2007.
A portfolio manager at an investor firm, which owns shares of both Leap and MetroPCS, said a deal is "highly imminent" according to Reuters.
With all the chatter, people feel that a deal is imminent for one of the two companies or both.
Reuters is reporting that America Movil could be interested in Leap and Deutsche Telekom could be interested in MetroPCS. Or the two could merge, which they tried to pull off in 2007.
A portfolio manager at an investor firm, which owns shares of both Leap and MetroPCS, said a deal is "highly imminent" according to Reuters.
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