Seeking Alpha

AT&T Inc. (T)

  • Apr. 11, 2013, 12:52 PM
    Paulson & Co. says it will support Deutsche Telekom's (DTEGY.PK) revised offer for MetroPCS (PCS -0.1%). Schoenfeld Asset Management, another opponent of the original deal, says it's reviewing the deal terms. Nonetheless, with Paulson's votes added to the existing support of Madison Dearborn (another major MetroPCS investor), the deal's odds are looking good. MetroPCS shares are near breakeven, after trading higher AH yesterday on news of DT's new bid. LEAP -1.6%.
    | Apr. 11, 2013, 12:52 PM | Comment!
  • Apr. 10, 2013, 3:56 PM
    Leap Wireless (LEAP +3.1%) is closing with a solid gain after the WSJ reported Deutsche Telekom is preparing a higher bid for prepaid rival MetroPCS. Leap, which had 45.4% of its float shorted as of March 15 (that's actually down from late-2012 levels), has often risen and fallen on M&A speculation.
    | Apr. 10, 2013, 3:56 PM | Comment!
  • Apr. 2, 2013, 5:30 PM
    Verizon (VZ) doesn't "currently have any intention to merge with or make an offer for Vodafone (VOD), whether alone or in conjunction with others," the telco announces, addressing an FT report about a possible joint bid with AT&T (T). Verizon does reiterate it "would be a willing purchaser" of Vodafone's 45% stake in Verizon Wireless, but that's pretty well-known. VOD -3.9% AH. VZ -0.8%. T -0.3%.
    | Apr. 2, 2013, 5:30 PM | 5 Comments
  • Apr. 2, 2013, 5:26 AM
    Verizon Communications (VZ) and AT&T (T) have reportedly been working on a $245B breakup bid for Vodafone (VOD) whereby Verizon would realize its long-held dream of gaining full control of Verizon Wireless and AT&T would obtain Vodafone's non U.S. assets. "Usually reliable people" tell the FT that Verizon and AT&T would offer 260p a share in what would be the biggest takeover in history. Vodafone shares are +4.8% at 195.64 pence in London.
    | Apr. 2, 2013, 5:26 AM | 7 Comments
  • Mar. 14, 2013, 6:01 PM
    AT&T (T) is indeed thinking of selling cell towers (among other assets), a company spokesman tells Bloomberg. However, the evaluation process is said to be in its early stages. Bloomberg points out some other reasons why AT&T may want to raise cash: growing capex, huge stock buybacks, and a hefty dividend (4.9% yield). AT&T had $69.8B in debt on its balance sheet as of Dec. 30. (RBC report)
    | Mar. 14, 2013, 6:01 PM | Comment!
  • Mar. 14, 2013, 3:55 PM
    AT&T (T) might sell wireless tower assets for a "mid-$5 billion" or higher price tag, thinks RBC's Jonathan Atkin. Noting T-Mobile USA and other peers have already sold towers to raise cash, Atkin believes Ma Bell could put ~14.5K towers on sales, and sees American Tower (AMT) as the most likely buyer. His comments come amidst multiple reports (I, II) of AT&T eying foreign investments/acquisitions.
    | Mar. 14, 2013, 3:55 PM | Comment!
  • Feb. 21, 2013, 1:00 PM
    Sprint (S -0.4%) is on the lookout for additional deals that can increase its spectrum position, says CEO Dan Hesse. The comments come even as rivals argue Sprint will have an oversized spectrum position if/when the Clearwire (CLWR +1%) acquisition goes through. Leap Wireless (LEAP -3.2%), always discussed whenever spectrum-related M&A deals are brought up, is adding to yesterday's post-earnings losses.
    | Feb. 21, 2013, 1:00 PM | 3 Comments
  • Jan. 25, 2013, 10:56 AM
    AT&T (T) continues its spectrum-buying binge by acquiring 700 MHz.-band spectrum from Verizon Wireless (VZ, VOD) in exchange for $1.9B and higher-frequency spectrum. The licenses AT&T is buying cover 42M people in 18 states, and will be used to deploy 4G services. The deal comes shortly after AT&T agreed to buy ATN's wireless ops and spectrum, and received an FCC green light to buy 2.3 GHz. spectrum from NextWave and others. Verizon agreed to sell a large chunk of 700 MHz. licenses in exchange for receiving FCC approval for its cable spectrum purchases.
    | Jan. 25, 2013, 10:56 AM | 1 Comment
  • Jan. 22, 2013, 8:44 AM
    AT&T (T) buys the wireless business of Atlantic Tele-Network (ATNI) for $780M in an all-cash transaction slated to close in the second half of the year. The deal will give AT&T the Alltel spectrum business which is focused in rural areas of Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho.
    | Jan. 22, 2013, 8:44 AM | Comment!
  • Jan. 10, 2013, 5:27 PM
    It's time for another dose of Leap Wireless (LEAP +9.7%) M&A speculation. Shares rallied over the course of the day after Guggenheim's Shing Yin argued there's a 70% chance MetroPCS (PCS) will make a bid after finishing its merger with T-Mobile USA. Six weeks ago, Yin claimed Sprint might make a bid for MetroPCS within four weeks. Leap, which had a whopping 61.5% of its float shorted on Dec. 14, reportedly held talks at one point about a 3-way deal with MetroPCS and T-Mobile.
    | Jan. 10, 2013, 5:27 PM | Comment!
  • Jan. 9, 2013, 10:45 AM
    "It's hard for me to imagine that what Dish wants is Clearwire ... It could be a chess move to get a partnership with Sprint," opines Bernstein's Craig Moffett. Jefferies and Macquarie also think Dish's (DISH +2.1%) $3.30/share offer for Clearwire (CLWR +7.7%) is an attempt to cut a deal with Sprint (S -1.4%), long named as a potential 4G partner but currently in the midst of selling itself to SoftBank (SFTBF.PK). Macquarie adds a $3.50-$3.75/share Sprint bid might be needed to get Dish and dissident shareholders to back down. PCS +1.8%. LEAP +0.9%.
    | Jan. 9, 2013, 10:45 AM | 7 Comments
  • Dec. 4, 2012, 9:21 AM
    MetroPCS (PCS) -7.2% after 3 sources tell Reuters Sprint (S) is unlikely to make an offer for the discount carrier in the near-term, out of concern it would complicate the regulatory review of the SoftBank (SFTBF.PK) deal. Sprint could revisit a MetroPCS bid after the SoftBank deal closes, but with the T-Mobile/MetroPCS deal expected to close somewhere in 1H13, and Sprint and SoftBank shooting for a mid-2013 close, Sprint might not have much time. LEAP -1.6%. (previous)
    | Dec. 4, 2012, 9:21 AM | Comment!
  • Nov. 30, 2012, 1:00 PM
    MetroPCS (PCS +3%), Leap Wireless (LEAP +4.3%), and Clearwire (CLWR +8.1%) are higher after a Guggenheim Securities analyst writes Sprint (S -0.6%) could make a $12-$13/share bid for MetroPCS in the next 4 weeks. Speculation debt-laden Sprint will try to grab MetroPCS from T-Mobile has been around for a while, aided by the fact SoftBank's (SFTBF.PK) CEO has said he won't rule out an offer. Also: Chat on the Street has passed on a (somewhat questionable) rumor Carlos Slim is talking with Clearwire.
    | Nov. 30, 2012, 1:00 PM | Comment!
  • Nov. 19, 2012, 11:48 AM
    Leap Wireless (LEAP +3.7%) outperforms following news Dish Network (DISH -2.1%) offered $11/share for MetroPCS (PCS +1.2%) before the latter decided to merge with T-Mobile USA. With MetroPCS off the table in the absence of a higher bid, Dish could conceivably turn to Leap to further its 4G ambitions. Dish is underperforming: aside from the MetroPCS disclosure, investors may be bothered by the WSJ's claim that FCC officials are "leaning" toward limiting the use of Dish's 4G spectrum out of interference concerns. (Dish/Google)
    | Nov. 19, 2012, 11:48 AM | Comment!
  • Nov. 16, 2012, 2:23 PM
    The U.S. mobile industry might not be done consolidating: T-Mobile USA (DTEGY.PK) is open to making new deals one it finishes merging with MetroPCS (PCS), says CTO Neville Ray. SoftBank (SFTBF.PK), on the verge of taking a controlling interest in Sprint (S), has also suggested it's willing to make additional moves. Leap Wireless (LEAP) is a name that inevitably comes up whenever U.S. mobile consolidation is a subject.
    | Nov. 16, 2012, 2:23 PM | 1 Comment
  • Nov. 9, 2012, 1:02 PM
    Leap Wireless (LEAP +6%) is rallying for the second day in a row thanks to new speculation a spectrum deal or full-blown sale will happen. Sprint's (S) cancellation of a conference presentation, together with Leap's Wednesday earnings call remarks regarding its willingness to sell excess spectrum, are the triggers this time around. Nomura suggests investors stay cautious, noting the $2.8B value assigned by Leap to its spectrum is barely above its $2.6B net debt position. Leap filed its Q3 10-Q this morning.
    | Nov. 9, 2012, 1:02 PM | Comment!
T vs. ETF Alternatives
Company Description
AT&T Inc, through its subsidiaries and affiliates, provides wireless and wireline telecommunications services in the United States and internationally. The Company has three reportable segments: Wireless, Wireline, and Other.