Sprint board rejects $8b MetroPCS merger
CNBC has reported that even though Sprint CEO Dan Hesse had endorsed a proposed merger between the carrier and MetroPCS, the Sprint board has rejected the deal just hours before it was supposed to be announced. The deal was expected to be valued at $8 billion and had been in the works for months according to CNBC's Dan Faber.
There is no word yet on why the board rejected the deal, or whether the deal is now completely dead. Not surprisingly, Sprint has no comment on the rumors. We'll update this as we learn more.