Tag Archives: Sprint

T-Mobile, Sprint ready board committees to decide on merger: sources

(Reuters) – T-Mobile US Inc and Sprint Corp are laying the groundwork for special committees of their board of directors to decide on a merger between the third and fourth largest U.S. wireless carriers, according to people familiar with the matter.

FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

These board committees are important for the merger because T-Mobile and Sprint are majority owned by Germany’s Deutsche Telekom AG and Japan’s SoftBank Group Corp respectively, and could be left vulnerable to potential lawsuits from minority shareholders if they don’t establish independent mechanisms to review the deal.

Both T-Mobile and Sprint have formed committees comprising independent board directors to decide on whether the deal should be signed once the merger agreement has been finalized, which is currently expected in the next three weeks, the sources said.

The companies’ special board committees have also hired financial advisers to help them deliver fairness opinions, the sources added.

As with many all-stock mergers, T-Mobile and Sprint have decided there is no need to give their minority shareholders a vote on the deal, the sources said.

An alternative would have been to make the merger subject to approval by a majority of their minority shareholders. However, the companies’ advisers have determined this is not legally necessary, and could even jeopardize the deal were minority shareholders to organize against it, according to the sources.

Some T-Mobile minority shareholders believe Sprint should not be offered any premium for its shares, the sources said. However, T-Mobile and Sprint have tentatively agreed on a range for a stock exchange ratio which, even at its low end, would offer Sprint a modest premium to where its shares are trading currently, the sources added.

This could result in SoftBank and other Sprint shareholders holding close to 40 percent of the combined company based on where the shares are currently trading, the sources added. The exact share exchange ratio will be determined by looking at the volume-weighted average stock price of the companies over the last few months, one of the sources added.

T-Mobile’s and Sprint’s due diligence on each other is almost complete, and much of their focus now is on working out a business plan for the combined company, as well as an integration strategy, according to the sources.

Sprint and T-Mobile declined to comment, while Deutsche Telekom and SoftBank did not immediately respond to requests for comment. The sources asked not to be identified because the negotiations are confidential.

Reporting by Liana B. Baker in New York; Editing by Muralikumar Anantharaman

Our Standards:The Thomson Reuters Trust Principles.


Want an iPhone 6S for $1? Get ready to switch to Sprint



On Friday the iPhone 6S and 6S Plus arrive in stores, and while thousands may line up for a chance to get their hands on a pink (rose gold) iPhone, others will be looking for the best upgrade deals.

In this U.S., Sprint may have just topped them all.

The wireless service provider announced on Thursday a gonzo limited-time trade-in deal to current iPhone 6 customers: $ 1 a month for an iPhone 6S and $ 5 a month for an iPhone 6s Plus.

The payment plan is actually part of Sprint’s “iPhone for Life” plan, which means customers are actually leasing the phone for, in this case, 12 months. After that, they turn in the phone for a new one and continue paying against the monthly lease agreement. While typical Sprint lease plans might charge $ 20 a month for a 16GB iPhone 6s, this one will charge you just a $ 1, meaning that, after 12 months, you end up paying $ 12 for the iPhone 6s. In the case of the larger iPhone 6s Plus, you pay $ 60. Read more…

More about Sprint, Tech, Mobile, Iphone 6s, and Iphone 6s Plus


Want the new iPhone? Sprint is the cheapest way to get one in the U.S.

iPhone 6s pink

(By Devika Krishna Kumar, Reuters) – Want to own the new iPhone without burning a hole in your pocket every month? Sprint seems to be the cheapest option in the United States.

Sprint Corp’s offer for the 16 GB iPhone 6S with a basic data, calling and text plan costs between $ 3 and $ 10.50 less per month than a competing offer from the other three top U.S. carriers.

The competition in the U.S. wireless industry is fierce and the launch of the newest iPhone iteration on Wednesday is a chance for carriers to lure customers away from their rivals.

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But, Apple Inc served up a curve ball by offering its own financing scheme for an unlocked iPhone, which gives a customer the liberty to switch between carriers, rather than be tied down by a contract with one carrier.

However, Sprint’s plan works out to be cheaper, on a per month basis, than even buying the iPhone from Apple and going for the cheapest wireless plan on offer.

Sprint is charging $ 22 per month for the 16 GB iPhone 6S, under a 21-month lease. That along with a basic talk, text and data plan, worth $ 45, will cost a customer $ 67 per month.

A T-Mobile US Inc plan similar to Sprint’s will cost about $ 70 per month – $ 20 for the phone with an 18-month agreement and $ 50 for a basic wireless plan.

Sprint and T-Mobile usually offer cheaper plans to lure customers from Verizon Communications Inc and AT&T Inc, the top two U.S. wireless companies, which analysts say have better networks.

Verizon’s plan costs about $ 77.08 per month, $ 27.08 for the iPhone over two years and $ 50 for a wireless plan.

AT&T’s plan, Next12, costs about $ 77.50 per month, $ 32.50 for a 20-month phone contract and $ 45 for a wireless plan.

Under Apple’s offer, the iPhone 6S will cost $ 32.41 per month. Paired with a basic $ 45 wireless plan, among the cheapest available, the phone would cost $ 77.41 per month.

And what when a new iPhone is launched?

Sprint allows users to upgrade every time a new iPhone is launched, which typically happens once every year, and charges an activation fee.

T-Mobile allows a free upgrade at any time, while AT&T offers the option of a free upgrade after 12 months.

Verizon’s plan also permits an upgrade at any time, but requires customers to pay off the remaining cost of the iPhone.

Still, there are advantages in opting for Apple’s financing plan.

Apple’s scheme includes AppleCare+, a warranty program that provides two years of hardware protection, instead of the standard one year, as well as coverage for two incidents in cases of accidental damage.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Sayantani Ghosh and Savio D’Souza)

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