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.
By Sinead Carew and Neha Alawadhi
(Reuters) – T-Mobile US Inc(TMUS.N: Quote, Profile, Research) is buying wireless airwave licenses from Verizon Wireless to improve its high-speed network in a $3.3 billion deal and said it hopes to follow up with more spectrum purchases.
Shares in T-Mobile, majority owned by Deutsche Telekom (DTEGn.DE: Quote, Profile, Research), rose 2.5 percent on Monday after the company said it will pay Verizon Wireless $2.365 billion cash and give it $950 million worth of spectrum.
NEW YORK (Reuters) – AT&T Inc plans to give cash-strapped consumers options to save money on mobile data fees as soon as this quarter while offering sponsors a new way to entice consumers to use their services.
The company said it will announce details on Monday at AT&T’s developer conference at the Consumer Electronics Show. The offering will let sponsors subsidize consumer’s data fees, which have gradually gotten more expensive in recent years as phone companies charge for mobile web-surfing based on how much data their customers download.
By Sinead Carew
(Reuters) – T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz) said on Monday it would buy spectrum licenses from Verizon Wireless to improve its high-speed wireless services in a deal worth $3.3 billion.