MetroPCS sets merger vote date, posts lower profits

02/26/2013 | Reuters · Wall Street Journal, The

MetroPCS Communications continued to post revenue gains as it introduced 4G services but the costs involved in the expansion as well as a loss of 450,000 subscribers caused profits to fall by 65% from a year ago, the prepaid carrier reported. Shareholders plan to vote on the company's proposed merger with T-Mobile USA on March 28, and CEO Roger Linquist predicted the deal would close in early April. For the quarter, revenues grew by 3.7% as average revenue per user rose by 0.8% to $40.86.

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Reuters · Wall Street Journal, The

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