MetroPCS gets new investors
MetroPCS today announced a hefty cash infusion of $739 million in private equity, but most of that money isn’t earmarked for MetroPCS’s ambitious buildout plans. It’s going toward buying out some of the carrier's existing partners, whom MetroPCS declined to name.
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Madison Dearborn Partners and TA Associates led the round with contributions of $300 million each, with their common limited partners picking up the remaining $139 million.
MetroPCS is planning on expanding into the Dallas, Detroit and Tampa, Fla., and supplementing its CDMA 1X network with an EV-DO upgrade supplied by Lucent Technologies. The carrier offers unlimited local calling plans in San Francisco, Atlanta, Miami and Sacramento, Calif., and has 1.5 million subscribers.
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