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AT&T Inc. (T)

  • 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.
  • Aug. 7, 2012, 11:16 AM
    Baird is downgrading Leap Wireless (LEAP -20.8%) following a poor Q2 report featuring ugly subscriber data, and Canaccord is calling the carrier "dead money at best" for 2H. The fact MetroPCS (PCS -0.9%) is only slightly scathed by the news suggests the Street views Leap's problems as largely company-specific. SA's Helix Investment thinks earnings call comments indicate Leap might put itself on sale, with the hope a larger carrier will pay top dollar for its lucrative spectrum.
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  • Aug. 2, 2012, 9:58 AM
    AT&T (T) is acquiring troubled spectrum owner NextWave Wireless (WAVE +456%) at a cost of up to $600M ($500M in assumed debt, $25M cash, $25M contingent payment). NextWave owns spectrum in the widely-used AWS band, as well as in the WCS band, which AT&T is petitioning to be opened up for 4G services. Expect the acquisition to be closely scrutinized by the FCC, given its recent actions, and its long history with NextWave.
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  • Jun. 12, 2012, 5:21 PM
    AT&T (T) CEO Randall Stephenson says his company is interested in buying the 700 MHz. spectrum Verizon Wireless (VZ, VOD) has offered to sell in order to win FCC approval of its spectrum purchases from cable providers. Consider this one more example of AT&T and Verizon, increasingly referred to as "duopolists," supporting each other on regulatory matters. T-Mobile and other opponents of Verizon's purchases have questioned the value of its 700 MHz. spectrum. (earlier)
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  • May. 22, 2012, 1:17 PM
    As Dish Network (DISH) tells the FCC to wait until at least 2016 for a 4G network launch, MetroPCS (PCS) and T-Mobile (DTEGY.PK) are calling for the agency to require Dish to sell half of its 40 MHz. of spectrum. Like others, the carriers think Dish will try to sell some or all of its spectrum to Verizon Wireless (VZ, VOD and/or AT&T (T), thereby putting smaller rivals at a disadvantage.
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  • May. 16, 2012, 12:38 PM
    AT&T (T) and U.S. Cellular (USM) are paying $304M to buy spectrum from cable operator Cox. AT&T's spectrum purchases cover 8 states, while U.S. Cellular's cover 5. The collapse of the T-Mobile deal, along with the spectrum transfer that was part of AT&T's breakup fee, has sent Ma Bell on the hunt for new airwave purchases. It was recently reported AT&T has held talks to buy Leap Wireless (LEAP), and speculation also exists about a bid for Dish Network (DISH).
  • May. 11, 2012, 7:53 AM
    Leap Wireless (LEAP) +9.3% premarket following news AT&T was (and might still be) interested in acquiring it.
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  • May. 11, 2012, 5:02 AM
    AT&T (T) recently held talks to buy smaller rival Leap Wireless (LEAP), sources say, as U.S. carriers try to buy growth through acquisitions in an already-mature market. The talks were apparently quite serious, though it's unclear whether negotiations are still underway.
  • May. 9, 2012, 6:34 PM
    If T-Mobile USA (DTEGY.PK) wants to buy MetroPCS (PCS +14.3%), it also needs to buy Leap Wireless (LEAP +12.1%), says UBS' John Hodulik. His reason: each carrier possesses only half the spectrum coverage T-Mobile needs. However, Hodulik cautions the fact MetroPCS and T-Mobile run incompatible 3G networks provides some execution risk (ed: their common use of LTE for 4G could make things a little easier).
  • May. 9, 2012, 12:52 PM
    MetroPCS (PCS +19.7%) and Leap Wireless (LEAP +17.4%) soar on a Bloomberg report that Deutsche Telekom (DTEGY.PK) is discussing a merger between MetroPCS and T-Mobile USA. The merger would involve a stock swap, and the combined company would be publicly listed. In addition, it's claimed Deutsche is weighing an IPO or outright sale for T-Mobile USA. All three carriers have been struggling (I, II) lately, thanks to prepaid weakness and a lack of iPhone sales.
  • Apr. 9, 2012, 8:44 AM
    More on the Yellow Pages sale: AT&T Advertising Solutions and AT&T Interactive have been sold to Cerebus. In return, AT&T (T) will receive a 47% stake in the new YP Holdings and $950M, $700M of which will be in cash. The business units had a combined $3.3B in revenue in 2011. (PR)
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  • Apr. 9, 2012, 8:29 AM
    AT&T (T) has reportedly sold most of the Yellow Pages to Cerebus, reports Bloomberg.
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  • Mar. 16, 2012, 4:52 PM
    As Canadian telco BCE makes a big media purchase, the Canadian government announces it's lifting restrictions on foreign investment in the telecom sector. The move could lead AT&T (T) and/or Verizon (VZ) to mull investments in Canadian carriers; AT&T has been evaluating its options for deploying its cash since the T-Mobile deal fell apart.
  • Mar. 8, 2012, 10:41 AM
    AT&T (T) is reportedly looking to sell a majority stake in Yellow Pages business, which is being steadily decimated by online competition, to P-E firm Cerberus Capital in a deal that would value the business at ~$1.5B. It's added AT&T would maintain a "substantial minority stake," and that a deal could be reached this month. AT&T's directory business, which includes Yellow Pages, saw its revenue fall 16% last year to $3.29B.
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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.