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Feb 28, 2013

Top MetroPCS investor to vote against T-Mobile USA deal

NEW YORK (Reuters) – Paulson & Co, the largest shareholder of MetroPCS Communications Inc, said it will vote against the wireless service provider’s proposed merger with T-Mobile USA, a unit of Deutsche Telekom AG, unless the companies sweeten the deal.

Paulson, owner of 36.3 million shares or 9.9 percent of MetroPCS stock, is following in the footsteps of another shareholder, P. Schoenfeld Asset Management LP (PSAM). PSAM, whose holdings represented 1.66 percent of MetroPCS shares at year end, is leading a proxy battle against the merger.

Feb 28, 2013

Paulson to vote against MetroPCS/T-Mobile USA deal

NEW YORK (Reuters) – Paulson & Co, the largest shareholder of MetroPCS Communications Inc (PCS.N: Quote, Profile, Research, Stock Buzz), said it will vote against the wireless service provider’s proposed merger with T-Mobile USA, a unit of Deutsche Telekom (DTEGn.DE: Quote, Profile, Research, Stock Buzz), unless the companies sweeten the deal.

Paulson, an owner of 36.3 million shares or 9.9 percent of MetroPCS stock, is following in the footsteps of another shareholder, P. Schoenfeld Asset Management LP (PSAM). PSAM, whose holdings represented 1.66 percent of MetroPCS shares at year end, is leading a proxy battle against the merger.

Feb 27, 2013

Clearwire to tap Sprint money but continue Dish talks

By Sinead Carew

(Reuters) – Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz) said on Wednesday that it would draw on $80 million in financing from Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz), which is seeking to buy it, but vowed to continue talks with rival bidder Dish Network Corp (DISH.O: Quote, Profile, Research, Stock Buzz).

Shares of Clearwire fell 1.5 percent to $3.15 after the decision, which could end Dish Chairman Charlie Ergen’s effort to buy the wireless service provider. But the stock was still above Sprint’s offer price of $2.97 per share, showing that investors still held out hope for a higher valuation.

Feb 22, 2013

Dividend cut worries hit Windstream, telecom sector

NEW YORK, Feb 22 (Reuters) – CenturyLink Inc’s 25
percent cut in its quarterly dividend last week has sparked
fears other telecom operators such as Windstream Corp
will follow suit.

While analysts say investors should not worry about
companies such as Frontier Communications and bigger
operator AT&T Inc making dividend cuts any time soon, they
are much less optimistic about Windstream.

Feb 20, 2013

Dish’s Ergen says could work with Sprint on Clearwire

Feb 20 (Reuters) – Dish Network Corp would consider
partnering with Sprint Nextel Corp, its rival in its
pursuit of Clearwire, Chairman Charlie Ergen said on Wednesday
following Dish’s fourth-quarter results.

Ergen made the remarks on a conference call dominated by
discussions about Clearwire, the telecommunications company Dish
made a surprise $2.3 billion bid for on Jan. 8. Dish allowed
reporters to ask Ergen, who is usually press shy, questions on
the call for the first time in years.

Feb 13, 2013

Clearwire says needs Sprint funding to last to year-end

NEW YORK (Reuters) – Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz), the wireless service provider that both Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz) and Dish Network (DISH.O: Quote, Profile, Research, Stock Buzz) want to buy, said on Tuesday that it would need Sprint financing to keep afloat up to the end of the year.

After Clearwire, which is already majority owned by Sprint, agreed to a $2.97 per share bid from Sprint in December, satellite television provider Dish announced a rival offer of $3.30 per share in January. Clearwire has said that it was still reviewing the Dish offer even though its board has not changed its recommendation in favor of the Sprint deal.

Feb 7, 2013

Sprint revenue rises but some customer numbers lag

NEW YORK, Feb 7 (Reuters) – Sprint Nextel Corp, which
is seeking to sell 70 percent of itself to Japan’s SoftBank Corp
, posted higher fourth-quarter revenue on Thursday but
its subscriber numbers fell short of some Wall Street targets.

Overall, the No. 3 U.S. mobile service provider had
fewer-than-expected subscriber losses, but analysts were
disappointed with growth on its Sprint network. It is shutting
its Nextel network by the end of June.

Feb 1, 2013

Clearwire says Dish bid still under consideration

NEW YORK, Feb 1 (Reuters) – Clearwire Corp said on
Friday that it was still evaluating a takeover bid from Dish
Network Corp even though it continues to recommend the
Sprint Nextel Corp offer it had accepted in December.

Minority shareholders of Clearwire, which is majority owned
by Sprint, have been hoping they can fetch a higher price for
their shares since Dish announced a preliminary nonbinding
counterbid of $3.30 per share. The Sprint deal values the
wireless service provider at $2.97 per share.

Jan 31, 2013

Qualcomm profit beats street, raises guidance; shares rise

NEW YORK (Reuters) – Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz), the world’s leading supplier of chips for cellphones, reported quarterly earnings and revenue that beat Wall Street expectations and raised its financial targets for 2013 due to growing demand for smartphones and high-speed wireless services.

Qualcomm shares rose 6.4 percent in late trade on Wednesday as its outlook wowed investors, in contrast to sluggish demand at other chip makers such as Texas Instruments (TXN.O: Quote, Profile, Research, Stock Buzz) and Broadcom Corp (BRCM.O: Quote, Profile, Research, Stock Buzz).

Jan 31, 2013

RIM rebrands as BlackBerry; launches nifty new devices

NEW YORK (Reuters) – Research In Motion Ltd on Wednesday unveiled the long-delayed line of smartphones it hopes will put it on the comeback trail, but it disappointed investors by saying U.S. sales of its all-new BlackBerry 10 devices will not start until March, sending its share price tumbling 12 percent.

Chief Executive Thorsten Heins also announced that RIM was abandoning the name it has used since its inception in 1985 to take the name of its signature product, signaling his hopes for a fresh start for the company that pioneered on-your-hip email.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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