merger

Dish's 'Seinfeld' play: Sprint ties it all together

Dish founder Charlie Ergen is clearly a massive "Seinfeld" fan.

Ergen wasn't shy about providing a shout-out to Jerry Seinfeld's classic situation comedy in discussing Dish's proposed $25.5 billion bid for Sprint Nextel.

In fact, Ergen compared his strategy to an episode of Seinfeld: 28 minutes filled with a lot of scenes that don't make sense, and a final two minutes where everything comes together.

For Dish, Sprint represents that final two minutes. The deal would be the linchpin to a strategy that Ergen said has been in the works for years. Ergen, … Read more

No new terms for T-Mobile-MetroPCS merger, Deutsche Telekom says

Looks like there won't be any sweetened deal terms for the T-Mobile/MetroPCS merger, as much as MetroPCS shareholders may wish.

Deutsche Telekom, speaking with FierceWireless, refuted a Reuters report from earlier today that it was considering changing the terms of the merger agreement reached in October.

"We are not considering changing the terms of the proposed merger," DT spokesman Philipp Kornstaedt told FierceWireless.

The company later gave CNET this statement:

In response to a variety of published rumors and reports, Deutsche Telekom clarifies that it has no comment as to possible changes to the terms of … Read more

Verizon denies Vodafone buyout

Contradicting a report from earlier today, Verizon said it has no plans to acquire Vodafone, either on its own or with a bidding partner.

Citing "usually reliable people," the Financial Times had reported that Verizon was teaming with AT&T to buy Vodafone, in a deal worth $245 billion.

Under the deal, the FT reported, Verizon would acquire the 45 percent stake Vodafone currently owns in its U.S. operations. The remainder of Vodafone's business outside the U.S. would go to AT&T.

But in a regulatory filing made today in response to media … Read more

MetroPCS advises investors to say 'yes' to T-Mobile merger

MetroPCs wants its shareholders to vote thumb's up on the T-Mobile merger.

In a letter sent today by MetroPCS to its investors, the company said it could provide no assurance that it would offer better shareholder value remaining as a standalone carrier, according to Reuters. If approved, the deal would see MetroPCs declare a 1-for-2 reverse stock split and give its stockholders $1.5 billion back in cash.

Investors would actually own 26 percent of the combined company, while T-Mobile USA's parent Deutsche Telekom would wind up with the remaining 74 percent.

The letter urging approval of the … Read more

MetroPCS shareholders told to vote against T-Mobile merger

A prominent organization that advises major shareholders in public companies how they should vote in corporate elections has told MetroPCS owners to vote against the T-Mobile merger.

Institutional Shareholder Services wrote to shareholders yesterday, saying that seeing their company merge with T-Mobile would not be in their best interests. According to The Wall Street Journal, which obtained a copy of the note, ISS was especially concerned with the way the market has responded since the deal was announced.

"In light of the negative market response to this transaction (shares are down 14.4 percent since announcement), the lower equity … Read more

Sprint reminds us it didn't want AT&T-T-Mobile merger

If you followed AT&T's unsuccessful play for T-Mobile that ultimately imploded in late 2011, then you'll remember that Sprint wasn't a fan of the proposed merger.

No, the nation's third-largest carrier opposed the transaction almost immediately and vigorously trashed it whenever it had the chance. And today, fifteen months after AT&T formally abandoned its $39 billion bid, Sprint brought up the issue again in a short statement regarding the upcoming resignation of Federal Communications Commission Chairman Julius Genachowski.

"From his decision to block AT&T's proposed takeover of T-Mobile … Read more

T-Mobile, MetroPCS clear final regulatory hurdle

T-Mobile USA and MetroPCS, the fourth and fifth largest cellular networks in the U.S., are set to merge after the third and final regulator gave its thumbs-up to the deal.

First reported by Bloomberg, the three regulators involved in the scrutiny process have now completed their inspection, allowing the deal to close before the fiscal second quarter, as planned.

Now that the Committee on Foreign Investment has given its approval, only a vote among MetroPCS shareholders to sign off on the deal is holding up the merger, which is set to be voted upon on April 12.

The two … Read more

Feds approve T-Mobile merger with MetroPCS

The Federal Communications Commission today officially approved the merger between T-Mobile USA and MetroPCS. The Department of Justice also gave a green light for the deal.

In a statement, FCC Chairman Julius Genachowski said that the merger will strengthen the U.S. wireless market by "moving toward robust competition and revitalized competitors."

The Justice Department, meanwhile, said in its statement that because MetroPCS is a regional provider and T-Mobile is a nationwide carrier, competition should not be harmed at a national level by allowing the companies to combine. And because MetroPCS competes in markets where all four nationwide … Read more

T-Mobile reportedly plans layoffs ahead of MetroPCS merger

Thanks to T-Mobile USA's expected closure of its merger with MetroPCS, the newly combined company is going to find itself with more employees than it knows what to do with.

Actually, it seems the No. 4 U.S. wireless carrier already has a pretty good idea what it will do with some of them, and it involves pink slips. T-Mobile is expected to begin layoffs at its Bellevue, Wash., headquarters as early as tomorrow that could result in the elimination of more than 100 jobs in marketing and other departments, according to The Seattle Times, which first reported on … Read more