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Sprint's (S) Management Presents at Deutsche Bank 2018 Media, Telecom & Business Services Conference (Transcript)

Mar. 07, 2018 5:32 PM ETSprint Corporation (S)30 Comments
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Sprint Corporation (S) Deutsche Bank 2018 Media, Telecom & Business Services Conference March 7, 2018 8:50 AM ET

Executives

Michel Combes - President and Chief Financial Officer

Analysts

Matthew Niknam - Deutsche Bank

Matthew Niknam

Okay. If everybody can please go ahead and take their seats. We are going to go ahead and get started with our next keynote session. We are very pleased to welcome brand-new CFO of Sprint, Michel Combes. Michel, welcome.

Michel Combes

Thank you, good morning.

Matthew Niknam

Good to have you. So maybe just to start, I think it's been about two months since you joined Sprint. But after three decades in the industry in Europe, can you give us your high level view, and I know it's only two months, but high level view of the U.S wireless market and some of the biggest surprises for you since joining the Company.

Michel Combes

So, first of all, thanks to host me today. I have been part of this type of event in the past, but that's my first time as President and CFO of Sprint. so that's my first conference. I hope the questions will be nice for me I think it's my first one.

Very excited let's say, to be there and to be with Sprint. I have been involved in the U.S. market in the past few years when I was at Vodafone. and we have these, let's say wireless joint ventures. So that's not a market that I don’t know and I have been very close to Marcelo in the past few year as well.

So we have exchanged a lot in the market. What I might share with you let's say maybe a few comments just on the industry as a whole. I’m very surprised or impressed by the level of competition

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Comments (30)

V
AT&T with it’s heavy debt load tries to keep competitive.

http://bit.ly/2Di51LW
SaintPaul profile picture
Wave7 Research thinks that Sprint's final hail-mary gasp is flawed and that their unlimited data plan for 4 lines is complicated and won't fool people to switch to Sprint...much less retain current users.
vonmir profile picture
poor choices when those supporting the enterprise (long-term) are constantly being passed over for the short term. the discounts being thrown to the wind ?

corporate values missing here.
V
Me patient man. San~Son 🐇

http://bit.ly/2GbofWK
MR. TRANQUILITTI profile picture
Looks like he’s hoping something sticks.....
MR. TRANQUILITTI profile picture
.............
MR. TRANQUILITTI profile picture
I heard Masa is going to occupy half of the Sprint stores for fast food sushi, hence, Sprint-Sushi........
E
VERY FUNNY
MR. TRANQUILITTI profile picture
📱 🍣
cssys profile picture
that may be a great idea msf...
Hmmm...
I'm a Combes fanboy, however.... that wasn't a great start (the transcription editor needs to be tech-literate and English-first speaker - geeez e.g. 'skill' versus 'scale' )
While there is a lot to be done in this turn-around there is a clear meaning from these words: "And second is reduce cost per megabyte, because let’s say with the spectrum that we have efficiency of 5G we can reduce our cost to operate network. So on one side we will continue to strengthen the organization, on second we will get the benefits of these 5G transition in terms of data of cost and that will give us a right position to deliver what I alluded to during these 45 minutes"
****Sunsetting 2G & 3G to streamline hardware skus and OPEX from NOC to tower PLUS add revs via MVNOs who add their own network branches for front/backhaul and small cell coverage.
That's it: 1) Sunset the Old, 2) Value-added Partnerships. *****

Masa is building the Chinese and INDIA RJIO way:
- Universal cells,
- all-digital IP
- LTE-only.
Old tech is the obstacle slowing down the road to customer and device adds, SCALE and ROI and SP growth.

IMO, it would be very effective to come first to market with 'Sprint Spark' triband aggregated 5G MiFi 'pucks'. TCL already has it and tried to buy the MiFi brand to market it. Sprint just needs to pick the right marketing name maybe LightBox 5G. It already uses MulteFire cuz I know the chip guys and LAA and LTE-U is just a software dem/val.
GLTA
t
Hope you are right about Combes. Not sure how many times you can say “Let’s say” before people start thinking your making too much shi.. up. V/R
vonmir profile picture
You are very correct....the addition of Combes has not been a great start; certainly hasn't affected share price. They seem terribly delayed in getting their house in order.

Like your comment: "Justice delayed is not permission for Violence." this holds true even if the judges are not blind. what is you sources of wisdom...military, life experiences, people on seeking alpha?
j
Sprints been holding strong at around $5.35 . That’s exciting news if you think a few short months ago it was trading and selling in large volume. The volume if you notice has been relatively weak. People are buying and holding onto the stock. It’s a matter of moments before this thing pops. They’re preparing 5g in April. With sprint offering the best plans on unlimited with truly unlimited I only see positive things from here.
S
"Sprints been holding strong at around $5.35 . That’s exciting news if you think a few short months ago it was trading and selling in large volume. The volume if you notice has been relatively weak. People are buying and holding onto the stock."

Not sure what that has to do with anything. The stock price is the defining factor. If the volume is low, that also means that less people are wiling to buy it. If more people are actually buying and holding, the price wouldn't stay at $5.35; if the upside is really already factored in and people are settling in, it should be 5.60 for example.
j
You’re correct. What I’m saying is, people aren’t jumping off the ship when talks of MIMO and 5g are being talked about. There’s little volume being sold and the price isn’t jumping around. I’d rather continue to add at these levels and know it’s only up from here
Why aren't you factoring in paying the true stakeholders as a priority?
There's only one significant shareholder but the true stakeholders are the debt bankers behind the Masa/Softbank-owned shares
Gotta pay them first and most. SP is nice as a future value and accounting line entry but is over-rated on a balance sheet, especially since one owner is benefitting and the true stakeholders are not.
Until the true stakeholders get paid, SP will be soft.
Priorities.
And then there's the roaring tiger called inflation they need to stay ahead of or get eaten. Look how China has jerked the leash on its Belt&Road private investors of State funds aka personal loans, personal lines of credit, mortgage refi funds.
The tiger is hungry.
IMO
SaintPaul profile picture
Sprint....$9.65 down to $5 buuucks. What was that award Claure received...worst CEO list of 2017? Masa is going to tender at $4 buuucks. As if $5 buuucks wasn't disgraceful enough....
MR. TRANQUILITTI profile picture
Not happening, you have a better chance dining with martians.
Masa will not sell he needs Sprint, that said I’m not saying this is good for Sprint shareholders but better for SoftBank shareholders if he succeeds 300 years from now...............
cssys profile picture
yes and maybe....
d
I sure would be a POWERFUL
Setfree profile picture
can Apple even do that??? Wouldn't that effect Apple with the other carriers?
K
“So, we have said that we would increase the CapEx. To start with, there was a little bit of skepticism on let's say, our ability to do that. I’m very happy or proud to - I was listening to some of the comments which have been made by the tower companies in the past two days in your conference. I guess that they all said, well, we see now strength is really ready to invest. They are real, they are going to invest in their network.”
Strength is here...
cssys profile picture
48 west. that sounds like a good deal.................
w
My best guess:
Apple will buy Sprint to get control of their 5G
National 5G will be a pre-requisite for driverless vehicles.
d
from everything we know and learned about Son... He walked away from the Tmobile merger because it would require him to lose control of his vision. He has a future vision that requires Sprint to be a cornerstone of it. This said; It will be tough for Apple and all its money to convince the majority owner of Sprint to sell.
Granted, but Sprint's stock price has been dead in the water ever since the merger failed.
V
Me have no need to take $Sprint private. San~Son 🐇
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