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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV