Macquarie's Kevin Smithen downgrades Sprint (S -3.5%) to Neutral after Dish decides to pass on...


Macquarie's Kevin Smithen downgrades Sprint (S -3.5%) to Neutral after Dish decides to pass on making a new bid for the #3 U.S. mobile carrier before a Tuesday deadline. In addition to the lack of a counterbid, Smithen is worried about the unresolved battle over Clearwire, and the fact Sprint is about to enter a period of heavy spending and negative free cash flow.

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  • fent623
    , contributor
    Comments (5) | Send Message
     
    He never wanted nor had pockets deep enough in the first place. He has now painted himself into a corner. How as a minority holder does he think he can use it to deliver a large enough punch. It will clearly become a takeover target, for someone like DT.
    19 Jun 2013, 03:14 PM Reply Like
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