MetroPCS Communications Inc. has reported a decline in its quarterly net profit by 65%, citing a sluggish revenue growth for 8th straight quarter as it makes preparation for its plan to merge with Deutsche Telekom AG unit T-Mobile USA.
MetroPCS, one of the wireless service providers in the U.S., disclosed that the number of its subscribers on its CDMA network suffered from its focus on expanding newer Long Term Evolution technology-based high speed wireless service.
MetroPCS said that it is confident that it will be successful in closing the deal at its shareholder conference on March 28 despite the opposition it faces from some shareholders saying that the deal does not value the wireless service provider highly enough.
The company said that it plans to eliminate the CDMA network after its merger deal with T-Mobile USA.
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