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AT&T Inc. (T)

  • Oct. 11, 2012, 10:12 AM
    Sprint (S +12.6%) has given back a chunk of the early gains it saw on a report SoftBank is in talks to buy a majority stake in the #3 U.S. carrier. SoftBank's cool response to the report - the Japanese carrier calls it "based on speculation" - might have something to do with the pullback. Analyst Kevin Roe thinks the report could indicate a ~$6.40/share offer price - Sprint is currently moving at $5.68. Verizon (VZ -1.2%) and AT&T (T -0.9%) are off moderately. (also)
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  • Oct. 11, 2012, 9:14 AM
    Clearwire (CLWR) +29.2% following a report SoftBank (SFTBF.PK) is thinking of buying a majority stake in Sprint (S) - investors are clearly betting Sprint's 4G network partner will also turn into a takeover candidate. However, MetroPCS (PCS) is down 7.8%, as the Street assumes a Softbank deal will lower the odds of a Sprint counter-offer to the T-Mobile deal, and perhaps put the carrier in a worse competitive position. Leap Wireless (LEAP) +3.4%.
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  • Oct. 5, 2012, 7:16 AM
    The Sprint (S) board schedules a noon phone meeting to discuss the possibility of renewing its pursuit of Metro PCS (PCS), say sources. When the board rejected what looked like a sealed deal for MetroPCS in February, Sprint's stock was just $2/share, but after a rally to $5, progress on the network upgrade, and the iPhone investment paying off, directors may have a change in attitude.
  • Oct. 4, 2012, 12:55 PM
    MetroPCS (PCS -1.9%) briefly turned positive following a Bloomberg report claiming Sprint (S -3.6%) is "in the early stages of evaluating a counter offer" for MetroPCS, and could decide on whether to one-up T-Mobile's bid as early as next week. Leap Wireless (LEAP -5.5%), already pummeled yesterday, is near the day's lows following a brief spike. Sprint, which (unlike T-Mobile) uses the same 3G tech as MetroPCS, reportedly had a deal to buy the carrier in February, but its board got in the way.
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  • Oct. 3, 2012, 9:10 AM
    More on the MetroPCS/T-Mobile USA merger: MetroPCS shareholders will get $1.5B in cash and a 26% stake in the combined company (MetroPCS closed with a $4.9B market cap yesterday), and Deutsche Telekom (DTEGY.PK) the remaining 74% stake. The deal is expected to close in 1H13. The WSJ notes the deal's reverse-merger structure could allow DT to gradually sell its stake and exit the U.S. market. PCS -2.1% after yesterday's big gains. LEAP +3.4%. S -1.2%.
  • Oct. 2, 2012, 1:03 PM
    Deutsche Telekom (DTEGY.PK) confirms it's in talks with MetroPCS (PCS +18.1%) about a merger with its T-Mobile USA unit, but adds major issues haven't been finalized. DT's board is expected to vote on the deal tomorrow. Some of the fallout: 1) Sprint (S -4.5%) is now widely expected to go after Leap Wireless (LEAP +13.6%) and its valuable spectrum. 2) The odds of a MetroPCS/Clearwire wholesale deal are now lower, and concerns exist a Sprint/Leap deal will diminish Clearwire's (CLWR -7.1%) value to Sprint.
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  • Oct. 2, 2012, 10:04 AM
    MetroPCS (PCS +15.3%) and Leap Wireless (LEAP +15.1%) shoot higher after Bloomberg reports Deutsche Telekom (DTEGY.PK), parent of T-Mobile USA, is close to a deal for MetroPCS, long the subject of M&A speculation. Sprint (S -6.9%) and Clearwire (CLWR -4.1%) are selling off.
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  • Sep. 28, 2012, 11:58 AM
    MetroPCS (PCS -1.6%) is "holding conversations with a number of strategic suitors," a source tells the FT, while cautioning the talks shouldn't be viewed as negotiations at this point. Shares are nonetheless trading lower, likely because M&A rumors (I, II) surrounding MetroPCS and fellow discount carrier Leap Wireless (LEAP -0.7%) are nothing new. Sprint (S), which reportedly came close to buying MetroPCS earlier this year, is said to be "not fully engaged" in conversations.
  • Sep. 26, 2012, 7:36 AM
    With Sprint (S) showing signs of improvement, analysts think the company could expand its customer base by acquiring a smaller rival such as T-Mobile (DTEGY.PK), MetroPCS (PCS) or Leap Wireless (LEAP) to create a strong no. 3 carrier to challenge AT&T (T) and Verizon Wireless (VZ). The stock's 136% YTD gain bolsters its currency for a deal.
  • Sep. 19, 2012, 2:45 PM
    Sprint (S +7%) and Clearwire (CLWR +8.3%) jump after the Street takes kindly to Sprint CEO Dan Hesse's Goldman conference remarks. Hesse forecasts "significant consolidation" will hit the U.S. mobile industry (previous); claims the carrier has doubled its retention rate for defecting Nextel subs as it prepares to shut down Nextel's network; and suggests Sprint is open to making spectrum purchases. M&A targets Leap Wireless (LEAP +2.5%) and MetroPCS (PCS +3.9%) are also higher.
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  • Sep. 19, 2012, 10:28 AM
    AT&T (T) CEO Randall Stephenson tells the crowd at a Goldman conference his company is still considering the sale of its rural phone ops - rival Verizon (VZ) unloaded a large chunk of its rural infrastructure to Frontier back in '09. Stephenson also reiterates AT&T's 2012 guidance for $20B in capex and 25M phone sales, and expects the spectrum-crazed company to be very active in Verizon's upcoming 700 MHz. spectrum auction.
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  • Aug. 22, 2012, 6:45 PM
    MetroPCS (PCS -4.3%) President Thomas Keys shoots down speculation of a merger with prepaid rival Leap Wireless (LEAP -8.1%) in a CNET interview, arguing the companies' spectrum constraints makes a deal illogical for now.  He adds a partnership with Dish Network (DISH) or Clearwire (CLWR), who could be partnering with each other, might help address MetroPCS' spectrum needs. (earlier)
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  • Aug. 20, 2012, 12:43 PM
    Verizon Wireless (VZ, VOD) claims 64 companies are interested in acquiring 700 MHz. spectrum it plans to sell once the FCC gives its expected approval to the company's cable spectrum purchases. That's up from 36 in May. AT&T (T - previous) and U.S. Cellular (USM) are among those who have already expressed interest, though T-Mobile and others have questioned the value of the spectrum, which could interfere with a TV channel.
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  • Aug. 13, 2012, 11:11 AM
    Leap Wireless (LEAP -4.4%) dives after Deutsche throws cold water on the idea the company will be acquired merely for its spectrum and other assets. The firm estimates Leap's assets are worth $4.6B, whereas its debt and obligations total nearly $6.5B. Leap was hammered a weak ago due to a weak earnings report, but subsequently rallied on buyout hopes.
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  • Aug. 10, 2012, 3:57 PM
    Leap Wireless (LEAP +9.8%), crushed on Tuesday thanks to a poor Q2 report, is rallying for the second day in a row. Today's culprit is a Bloomberg column speculating on M&A interest, given recent management comments suggesting a willingness to sell. The column notes a Pivotal Research analyst estimates Leap's spectrum and operations could be worth $16/share to a buyer. 45% of Leap's float was shorted as of July 13. MetroPCS (PCS +2.2%) has also been the subject of M&A rumors.
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  • Aug. 7, 2012, 6:13 PM
    Sprint (S) CEO Dan Hesse says he welcomes mobile consolidation in the U.S. ... as long as it doesn't involve AT&T and Verizon, whom (like co-workers) he accuses of being duopolists. Hesse also claims once more he has no regrets about committing to $15B worth of iPhone purchases, and boasts Sprint has been able to shut down call centers by offering better customer service. Hesse struck a deal to acquire MetroPCS (PCS) in February, but was shot down by his board.
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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.