On Wednesday, MetroPCS (PCS) and T-Mobile USA, the U.S. unit of Deutsche Telekom (DT), announced their merger plan. The deal is expected to close in the first half of 2013, with the combined company using T-Mobile's branding. The new entity will have 42.5 million subscribers, according to a statement released by the two companies.
The following day, Bloomberg reported that Sprint (S) is in the "early stages" of considering a counterbid for MetroPCS, as the company jostles to better compete against telecom heavyweights AT&T (T) and Verizon (VZ).
MetroPCS shares gained 8.0% for the week to close at $12.65 on Friday. Sprint finished the week down 5.8% at $5.20.
Also on Thursday, Facebook announced that it has reached the milestone of 1 billion users. "If you're reading this: thank you for giving me and my little team the honor of serving you," explained Facebook CEO Mark Zuckerberg, in a blog post. Facebook shares dipped 3.6% during the week's trading to close at $20.91 on Friday. -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
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