Tag Archives: Sprint

Sprint, T-Mobile plan to file deal application to FCC on Monday
June 15, 2018 6:02 pm|Comments (0)

WASHINGTON (Reuters) – Wireless companies Sprint Corp and T-Mobile US Inc have informed the Federal Communications Commission that they will formally file an application asking for approval to merge on Monday, according to a document seen by Reuters.

A smartphones with Sprint logo are seen in front of a screen projection of T-mobile logo, in this picture illustration taken April 30, 2018. REUTERS/Dado Ruvic/Illustration

The document, which was filed to the FCC on Thursday, also requests a protective order that would shield sensitive corporate information from public view.

The two companies, which are the third- and fourth-largest wireless carries, agreed to a $ 26 billion all-stock deal in April that they said would create thousands of jobs and help the United States beat China to creating the next generation mobile network.

Two areas of potential regulatory concern focus on the companies’ large market share for prepaid and wholesale customers.

Neither Sprint nor T-Mobile immediately responded to a request for comment.

Reporting by David Shepardson; Writing by Diane Bartz; Editing by Dan Grebler

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T-Mobile agrees to acquire Sprint
April 29, 2018 6:05 pm|Comments (0)

(Reuters) – T-Mobile US Inc agreed on Sunday to acquire peer Sprint Corp, in a $ 26 billion all-stock deal that will combine the third and fourth largest U.S. wireless carriers and is expected to attract regulatory scrutiny over its impact on consumers.

Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration

The agreement caps four years of on- and off- talks between the companies, setting the stage for the creation of a carrier with 127 million customers that will be a more formidable competitor to the No.1 and No.2 wireless players, Verizon Communications Inc and AT&T Inc.

U.S. regulators, which have challenged in court AT&T’s $ 85 billion deal to buy U.S. media company Time Warner Inc, are expected to grill Sprint and T-Mobile on how they will price their combined wireless offerings.

The merger will create the highest capacity network in the United States, lower prices, create jobs and improve service in rural areas, said John Legere, the current chief executive of T-Mobile and the new head of the proposed combined company.

T-Mobile and Sprint said they expected to complete their deal no later than the first half of 2019, an ambitious goal given the intense U.S. regulatory scrutiny it will be subjected to. T-Mobile will not be liable to pay Sprint a breakup fee should regulators block the deal, according to sources who asked not to be identified because that detail in their contract has not yet been made public.

The companies said they expect U.S. regulators would see the benefits of the deal.

“This isn’t a case of going from four to three wireless companies – there are now at least seven or eight big competitors in this converging market,” Legere said in a statement. Other companies also would be forced to accelerate their investments in the face of a combined T-Mobile-Sprint, the companies added.

A spokeswoman for Federal Communications Commission Chairman Ajit Pai declined to comment on Sunday on the proposed merger. The FCC will decide whether to grant the deal regulatory approval and if deal is in the “public interest.”

DEAL BREAKTHROUGH

The breakthrough in the companies’ negotiations, first reported by Reuters on Thursday, came after T-Mobile majority-owner Deutsche Telekom AG and Japan’s SoftBank Group Corp, which controls Sprint, agreed on a structure that will allow Deutsche Telekom to continue to consolidate the combined company, which will have a market value of over $ 80 billion, on its books.

Deutsche Telekom will own 42 percent of the combined company, and will control the board of the combined company, nominating nine of the 14 directors. Legere will also serve as a director.

The implied equity valuation for Sprint is $ 6.62 per share based on T-Mobile’s closing share price on Friday. Sprint shares closed Friday at $ 6.50.

The all-stock transaction is at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share, or the equivalent of 9.75 Sprint shares for each T-Mobile US share.

Sprint’s and T-Mobile’s first round of merger talks ended unsuccessfully in 2014 after U.S. President Barack Obama’s administration expressed antitrust concerns about the deal.

Under U.S. President Donald Trump’s administration, regulators have continued to fret about consumer prices. The U.S. government has opened a probe into alleged coordination by AT&T, Verizon Communications and a telecommunications standards organization to hinder consumers from easily switching wireless carriers, a person briefed on the matter said earlier this month.

The second round of talks between Sprint and T-Mobile ended in November over valuation disagreements, although Deutsche Telekom CEO Tim Hoettges, left the door open at the time, saying: “You always meet twice in life.”

Since then, Sprint’s shares lost about a fifth of their value amid questions about how the company can compete effectively under the weight of its long-term debt of more than $ 32 billion.

Softbank has been looking to trim its own debt as well, which reached 15.8 trillion yen ($ 147 billion) as of the end of December. It has said it is planning to raise cash by taking its Japanese mobile phone unit public this year.

Failure to clinch a deal last November left SoftBank CEO Masayoshi Son, a dealmaker who raised close to $ 100 billion for his Vision Fund to invest in technology companies, in search of other options for Sprint.

INVESTING IN 5G TECHNOLOGY

Even though Sprint’s customer base has expanded under CEO Marcelo Claure, growth has been driven by discounting. Analysts say that, without T-Mobile, Sprint lacks the scale needed to invest in its network and to compete in a saturated market.

T-Mobile has fared better than Sprint, even if it remains a distant third to Verizon and AT&T. It has managed to score sustained market share gains, as innovative offerings, improving network performance and good customer service attract new customers, according to Moody’s Investors Service Inc.

T-Mobile became the first major U.S. carrier to eliminate two-year contracts, a shift quickly embraced by consumers and copied by competitors. The company has also badgered rivals with its unlimited data plans.

Both Sprint and T-Mobile are far behind Verizon and AT&T in upgrading their network to accommodate next generation 5G wireless technology. Even after their merger, the combined company’s budget to invest in 5G will be smaller than Verizon or AT&T’s.

However, Sprint and T-Mobile hope the deal will give them more firepower to participate in auction for spectrum to develop 5G. They plan to participate in a spectrum auction in late fall.

Reporting by Greg Roumeliotis in New York; Writing by Sheila Dang; Editing by Lisa Shumaker and Peter Henderson

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T-Mobile agrees to acquire Sprint for $26 billion
April 29, 2018 6:02 pm|Comments (0)

(Reuters) – T-Mobile US Inc agreed on Sunday to acquire peer Sprint Corp, in a $ 26 billion all-stock deal that will combine the third and fourth largest U.S. wireless carriers and is expected to attract regulatory scrutiny over its impact on consumers.

Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration

The agreement caps four years of on- and off- talks between the companies, setting the stage for the creation of a carrier with 127 million customers that will be a more formidable competitor to the No.1 and No.2 wireless players, Verizon Communications Inc and AT&T Inc.

U.S. regulators, which have challenged in court AT&T’s $ 85 billion deal to buy U.S. media company Time Warner Inc, are expected to grill Sprint and T-Mobile on how they will price their combined wireless offerings.

The merger will create the highest capacity network in the United States, lower prices, create jobs and improve service in rural areas, said John Legere, the current chief executive of T-Mobile and the new head of the proposed combined company.

T-Mobile and Sprint said they expected to complete their deal no later than the first half of 2019, an ambitious goal given the intense U.S. regulatory scrutiny it will be subjected to. T-Mobile will not be liable to pay Sprint a breakup fee should regulators block the deal, according to sources who asked not to be identified because that detail in their contract has not yet been made public.

The companies said they expect U.S. regulators would see the benefits of the deal.

“This isn’t a case of going from four to three wireless companies – there are now at least seven or eight big competitors in this converging market,” Legere said in a statement. Other companies also would be forced to accelerate their investments in the face of a combined T-Mobile-Sprint, the companies added.

A spokeswoman for Federal Communications Commission Chairman Ajit Pai declined to comment on Sunday on the proposed merger. The FCC will decide whether to grant the deal regulatory approval and if deal is in the “public interest.”

DEAL BREAKTHROUGH

The breakthrough in the companies’ negotiations, first reported by Reuters on Thursday, came after T-Mobile majority-owner Deutsche Telekom AG and Japan’s SoftBank Group Corp, which controls Sprint, agreed on a structure that will allow Deutsche Telekom to continue to consolidate the combined company, which will have a market value of over $ 80 billion, on its books.

Deutsche Telekom will own 42 percent of the combined company, and will control the board of the combined company, nominating nine of the 14 directors. Legere will also serve as a director.

The implied equity valuation for Sprint is $ 6.62 per share based on T-Mobile’s closing share price on Friday. Sprint shares closed Friday at $ 6.50.

The all-stock transaction is at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share, or the equivalent of 9.75 Sprint shares for each T-Mobile US share.

Sprint’s and T-Mobile’s first round of merger talks ended unsuccessfully in 2014 after U.S. President Barack Obama’s administration expressed antitrust concerns about the deal.

Under U.S. President Donald Trump’s administration, regulators have continued to fret about consumer prices. The U.S. government has opened a probe into alleged coordination by AT&T, Verizon Communications and a telecommunications standards organization to hinder consumers from easily switching wireless carriers, a person briefed on the matter said earlier this month.

The second round of talks between Sprint and T-Mobile ended in November over valuation disagreements, although Deutsche Telekom CEO Tim Hoettges, left the door open at the time, saying: “You always meet twice in life.”

Since then, Sprint’s shares lost about a fifth of their value amid questions about how the company can compete effectively under the weight of its long-term debt of more than $ 32 billion.

Softbank has been looking to trim its own debt as well, which reached 15.8 trillion yen ($ 147 billion) as of the end of December. It has said it is planning to raise cash by taking its Japanese mobile phone unit public this year.

Failure to clinch a deal last November left SoftBank CEO Masayoshi Son, a dealmaker who raised close to $ 100 billion for his Vision Fund to invest in technology companies, in search of other options for Sprint.

INVESTING IN 5G TECHNOLOGY

Even though Sprint’s customer base has expanded under CEO Marcelo Claure, growth has been driven by discounting. Analysts say that, without T-Mobile, Sprint lacks the scale needed to invest in its network and to compete in a saturated market.

T-Mobile has fared better than Sprint, even if it remains a distant third to Verizon and AT&T. It has managed to score sustained market share gains, as innovative offerings, improving network performance and good customer service attract new customers, according to Moody’s Investors Service Inc.

T-Mobile became the first major U.S. carrier to eliminate two-year contracts, a shift quickly embraced by consumers and copied by competitors. The company has also badgered rivals with its unlimited data plans.

Both Sprint and T-Mobile are far behind Verizon and AT&T in upgrading their network to accommodate next generation 5G wireless technology. Even after their merger, the combined company’s budget to invest in 5G will be smaller than Verizon or AT&T’s.

However, Sprint and T-Mobile hope the deal will give them more firepower to participate in auction for spectrum to develop 5G. They plan to participate in a spectrum auction in late fall.

Reporting by Greg Roumeliotis in New York; Writing by Sheila Dang; Editing by Lisa Shumaker and Peter Henderson

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Want an iPhone 6S for $1? Get ready to switch to Sprint
December 3, 2015 10:35 pm|Comments (0)

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On Friday the iPhone 6S and 6S Plus arrive in stores, and while thousands may line up for a chance to get their hands on a pink (rose gold) iPhone, others will be looking for the best upgrade deals.

In this U.S., Sprint may have just topped them all.

The wireless service provider announced on Thursday a gonzo limited-time trade-in deal to current iPhone 6 customers: $ 1 a month for an iPhone 6S and $ 5 a month for an iPhone 6s Plus.

The payment plan is actually part of Sprint’s “iPhone for Life” plan, which means customers are actually leasing the phone for, in this case, 12 months. After that, they turn in the phone for a new one and continue paying against the monthly lease agreement. While typical Sprint lease plans might charge $ 20 a month for a 16GB iPhone 6s, this one will charge you just a $ 1, meaning that, after 12 months, you end up paying $ 12 for the iPhone 6s. In the case of the larger iPhone 6s Plus, you pay $ 60. Read more…

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Sprint Wants $1 a Month for a New 16GB iPhone 6S
November 11, 2015 9:10 pm|Comments (0)

Sprint Wants $ 1 a Month for a New 16GB iPhone 6S

Everybody loves a good price war.

The post Sprint Wants $ 1 a Month for a New 16GB iPhone 6S appeared first on WIRED.



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