MetroPCS Communications Inc.’s share price hit a 52 week low of US$7.08 yesterday, after Wal-Mart Stores Inc. announced that it will expand its low-price, prepaid mobile services across the U.S.
Wal-Mart developed the service with TracFone Wireless Inc., the U.S. unit of Mexican billionaire Carlos Slim’s American Movil. It will offer the prepaid service nationwide to 3,200 stores across the country on October 18, 2009, after a test run this summer with only 234 stores. MetroPCS Communications share price declined 2.92% to close at US$7.32 yesterday.
Post a Comment