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Report: T-Mobile parent may raise MetroPCS bid
Thursday - 4/11/2013, 11:00am EDT
NEW YORK (AP) -- The parent company of T-Mobile USA is considering raising its offer for MetroPCS Communications Inc., which some shareholders have called too low, according to a published report.
The Wall Street Journal is reporting that German phone company Deutsche Telekom AG, which owns T-Mobile, is likely to improve the terms and could announce them as early as Wednesday. The newspaper cited people "familiar with the matter" that it didn't identify.
The deal would merge the fourth- and fifth-largest cellphone carriers in the U.S. Under current terms, MetroPCS shareholders would get $1.5 billion in cash and 26 percent of the combined company.
Dallas-based MetroPCS is holding a special shareholder meeting Friday. Shareholders are already voting on whether to approve the deal.
T-Mobile USA and MetroPCS had no immediate comment on the report.
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