NEW YORK, Feb 3 (Reuters) – Hedge fund Elliott Management
Corp, which owns a 6.2 percent stake in Juniper Networks Inc
, has prepared a slate of directors in the event that
the network equipment maker’s pending turnaround plan does not
achieve goals laid out by the activist investor, people close to
the matter said.
Elliott, which in January urged Juniper to return cash to
investors, consider cutting costs and conduct a strategic review
of its product portfolio, said in a statement on Monday that it
has recruited a team of leading executives who have the
“operational skills” and “deep industry experience” to make its
plan a reality.
(Reuters) – Federal Communications Commission Chairman Tom Wheeler expressed his skepticism about a potential merger between Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) and T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz) in a meeting with Sprint Chairman Masayoshi Son on Monday, according to an FCC official briefed on the matter.
Son, chief executive at Tokyo-based SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), which acquired Sprint last year, met with the top U.S. telecommunications regulator alongside Sprint Chief Executive Dan Hesse.
(Reuters) – Shares in U.S. mobile operators fell sharply on Monday after a AT&T Inc price cut fueled fears from investors that market leader Verizon Wireless and other rivals would have to react.
AT&T shares closed down 4 percent a day after the No. 2 U.S. mobile services provider slashed the monthly fee for a data plan from $40 to $15.
NEW YORK, Jan 28 (Reuters) – AT&T Inc’s fourth quarter
wireless subscriber growth and its free cash flow target lagged
well behind analyst estimates, sending its shares down 2 percent
in late trade on Tuesday.
Chief Executive Randall Stephenson also told investors on
the company’s conference call that a U.S. spying scandal was
hurting its business irrespective of any effect it could have on
prospects for overseas acquisitions.
LONDON/NEW YORK (Reuters) – Shareholders of both Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) and Verizon Communications Inc (VZ.N: Quote, Profile, Research, Stock Buzz) approved Verizon’s $130 billion takeover of their Verizon Wireless venture on Tuesday, paving the way for the third biggest deal in corporate history.
Vodafone shareholders voted for one of the biggest payouts ever as 71 percent of the deal’s net proceeds – or $84 billion including stock – will be returned to Vodafone shareholders from the sale of Vodafone’s 45 percent interest in Verizon Wireless to majority owner Verizon.
NEW YORK (Reuters) – Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) said on Thursday it would report a fourth-quarter charge of $165 million for severance and related items as a result of job cuts it is making across the company to reduce costs.
The No. 3 U.S. mobile operator, which is 80 percent owned by Japan’s SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), said it also expected more material charges in future periods associated with a workforce reduction plan that would include management and non-management positions throughout the company.
NEW YORK (Reuters) – Verizon Communications Inc reported faster subscriber growth and stronger profits than expected at its Verizon Wireless venture with Vodafone Group Plc, easing some concerns about intensifying competition if only temporarily.
Investors are worried market leader Verizon Wireless, which is paying $130 billion for Vodafone’s 45 percent share in their venture, will cut prices as discounts from No. 4 U.S. mobile service T-Mobile U.S. have drawn responses from No. 2 service AT&T Inc and No. 3 ranked Sprint Corp.
NEW YORK (Reuters) – New Year’s rivalry among U.S. mobile operators has Wall Street worried that the industry’s profits could seriously decline.
After months of aggressive moves by T-Mobile US to lure customers from other carriers, No. 2 operator AT&T Inc counterattacked on January 3 by offering to pay consumers to switch from T-Mobile. Days later, No. 3 ranked Sprint Corp promised big discounts for family and friend groups. On Wednesday T-Mobile upped the ante, saying it would pay hefty exit costs for converts.
LAS VEGAS/NEW YORK (Reuters) – T-Mobile US on Wednesday reported a fourth-quarter boost in customer growth and offered to pay customers to switch from rival services, escalating already intense competition in the U.S. wireless market.
The company, the No. 4 U.S. mobile operator, promised payments of up to $350 per line to consumers who break their contract with any of its bigger rivals and switch to T-Mobile.
NEW YORK (Reuters) – Sprint Corp on Tuesday unveiled a new option called “framily” plans that give up to 10 family members or friends big service discounts if they sign up as a group, the latest move in an increasingly competitive market.
The new option, which could represent a service discount of almost 50 percent from Sprint’s existing family plan in some cases, follows aggressive discounts by Sprint’s smaller rival T-Mobile US that sparked a new wave of competition.