MetroPCS Exploring TerreStar Assets: Report
U.S. wireless carrier MetroPCS is one of several parties interested in acquiring assets of bankrupt mobile communications firm TerreStar Networks, the Wall Street Journal reported Thursday.
TerreStar's radio spectrum licenses, allowing access to high-speed data airwaves, are a main reason for the interest of companies like MetroPCS, sources told the newspaper.
Though any deal remains uncertain, sources also said TerreStar could attract up to $1 billion if acquired.
Virginia-based TerreStar, currently in the midst of a bankrupty reorganization plan, is said to be testing the waters for a sale in hopes that it could secure more for the firm's creditors.
Shares of MetroPCS, which closed at $12.29 , were about 1 percent higher in late trade. Get after-hours quotes for MetroPCS here.