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AT&T Inc. (T)

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  • 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.
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  • 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%.
  • 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)
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  • 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.
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  • 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)
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  • 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.
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  • 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.
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  • Oct. 11, 2012, 11:07 AM
    More on Sprint/SoftBank: David Faber claims SoftBank's talks with Sprint (S +19%) also cover the acquisition of Clearwire (CLWR +38.8%). He adds a 3-way deal featuring T-Mobile was considered, but talks fell apart due to antitrust concerns, leading T-Mobile to go after MetroPCS (PCS -6.1%). Sources tell Faber a SoftBank/Sprint deal, though not yet finalized, could happen in a week or two. SoftBank reportedly thinks Sprint and Clearwire's spectrum will allow it to challenge the AT&T/Verizon "duopoly." (more)
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  • 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.
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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.