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T-Mobile to Pay Your Family to Switch

Stocks in this article: TMUS T S VZ

NEW YORK ( TheStreet) -- T-Mobile (TMUS) is expected to continue its assault on the competition with another big announcement Wednesday at the Consumer Electronics Show in Las Vegas.

As the latest twist in the company's "UnCarrier" campaign, T-Mobile is expected to offer to pay early termination fees charged to customers when they switch family plans from AT&T (T), Sprint (S) or Verizon (VZ) to T-Mobile.

T-Mobile shares were trading at $32.99, down 0.69% in New York.

According to a report on the Droid Life Web site, T-Mobile is set to announce the carrier will pay as much as $350 per family if/when they move at least three --  up to a maximum of five -- cellular phone lines to T-Mobile.

T-Mobile will reportedly "pay Early Termination Fees (ETF) from your previous carrier, as long as you trade-in your current phones and then sign-up for service, plus purchase a new device."

The online advertisements for T-Mobile's "UnCarrier Part 4" offer have already begun to populate Web sites on Wednesday in advance of the announcement.

Last week, AT&T announced a similar plan to try to lure customers away from T-Mobile. At the time, T-Mobile CEO John Legere said he was thinking of countering his rival's offer by ""unshackling families from the other guys."

Monday nigh
t, Legere was physically escorted from AT&T's exclusive CES party at the Palms resort in Las Vegas.

Legere's announcement Wednesday is scheduled for 3:30 pm EST.

 -- Written by Gary Krakow in New York.

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