T-Mobile's discounted plans boost subscriber adds

T-Mobile shares jumped 7.3 percent as the company that has billed itself as the "uncarrier" signed up 2.4 million new customers in the first quarter, topping estimates of 932,000. No. 3 carrier Sprint Corp is currently meeting with banks to work out funding for a bid for T-Mobile, a source familiar with the situation said, as the mobile carrier works to ease regulatory concerns that the deal would hurt competition. U.S. authorities rejected a 2011 merger between AT&T and T-Mobile on grounds that the market needs at least four major players to be competitive "Certainly it is turning out that the fact that the FCC had the foresight to enable us to continue to compete and not combine with other duopolists has been a good thing," said Mike Sievert, chief marketing officer at T-Mobile.

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