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’Where now for AT&T and T-Mobile?
Wherein John McDermott and Cardiff Garcia try to understand the deal of the day and realise they should’ve gone to law school and become antitrust attorneys.
What just happened?
The Department of
US government: not so fast, AT&T&T-mobile
Breaking: regulator grows a Bachmann-like titanium spine, markets caught by surprise.
Report from Bloomberg:
The U.S. government sued to block AT&T’s proposed $39 billion acquisition of T-Mobile USA Inc.,
Deutsche Telekom’s win/win deal
Wow!
The price action in Deutsche Telekom on Monday morning:
That’s a rise of 12 per cent for the €40bn company.
Make no mistake, the deal to sell its struggling US business to AT&T for $39bn in cash and stock is an excellent one.
Snap news
Breaking pre-market news on Monday,
- Swiss Re estimates Japan claim costs at $1.2bn – statement.
- Deutsche Telekom planning €5bn buyback following sale of US business — statement.
- Gem Diamonds in preliminary merger discussions with Lucara Diamond Corp — statement.
Today I shall short Adecco, Danone, Deutsche Telekom, Diageo…
M&A is back (exclamation point!), thanks to the Kradbury affair, and with it lists of possible acquisition targets to buy.
RBS have made their own contribution to M&A speculation on Wednesday morning with a compendium of six potential acquirers to short.
Is MetroPCS the real Deutsche Telekom target?
The whiff of M&A in the US mobile market returned on Monday.
In fact it was more than a whiff: usually knowledgeable sources are convinced that Deutsche Telekom is in full-throated discussions to combine its T-Mobile business in America with its smaller,
Sprint finish(ed)?
Rumours of a bid for Sprint Nextel, the third-largest mobile phone operator in the US, have been swirling round the market for a couple of weeks now – something that has been reflected in the trading of its October $4 call options.
CDS report: Summer’s over. Is the recession ending too?
This CDS report – a review of the week that was – was written by Markit’s Gavan Nolan
Summer is drawing to a close amid a growing consensus that the global recession has also reached its denouement.
Mobile JV puts heat on Vodafone, Telefónica
Vodafone and Telefónica of Spain are under mounting pressure to strengthen their positions in the UK after the publication of plans for a joint venture between France Telecom’s Orange UK and Deutsche Telekom’s T-Mobile UK.
M&A is not even resting
Who said M&A activity was “resting” – if not dead (for now)? Indeed, even a month ago, deal-making worldwide was looking rather like Monty Python’s proverbial dead parrot.
In fact, as FT Alphaville recently noted,
Franco-German JV for UK mobile arms
Deutsche Telekom is close to finalising a deal with France Telecom to form a joint venture out of their UK mobile businesses and seize first place in the competitive UK market. An agreement involving France Telecom’s Orange UK and Deutsche Telekom’s T-Mobile UK could be announced as early as Tuesday.
Fight is on for T-Mobile UK
A bidding war has started for T-Mobile UK after Vodafone and Telefónica made informal offers worth about £4bn for Deutsche Telekom’s British subsidiary. The cash offers, submitted at the end of August,
Deutsche Telekom in UK unit sale talks
Deutsche Telekom has started talks with the UK’s Vodafone, France Telecom, and Telefónica of Spain about selling T-Mobile UK, its flagging mobile phone unit which was valued in early summer at €3bn-€4bn.
Vodafone eyes T-Mobile UK bid
Vodafone is considering an offer to buy T-Mobile UK, in an audacious move that would have huge impact on the UK mobile phone market. The world’s largest mobile operator by revenue is looking at the case for acquiring T-Mobile UK,
Deutsche Telekom steps up revamp
Deutsche Telekom, Europe’s largest telecoms company by sales, is set to intensify its cost-cutting efforts as it aims to revive its German fixed-line telephone business. René Obermann, Telekom’s chief executive,
UK bank holiday catch-up
In case you missed these stories:
DT has Sprint Nextel in its sights
Deutsche Telekom is considering the takeover of Sprint Nextel of the US which would catapult the German telecoms group from number four to number one by users in the US mobile market.
Deutsche Telekom chair to quit
Klaus Zumwinkel is to retire as chairman of Deutsche Telekom and chief executive of Deutsche Post, ending the tenure of a man long backed by the German government but criticised by other shareholders in the companies.
Deutsche Telekom to sell broadcast unit
Deutsche Telekom is on Thursday expected to announce the sale of its media and broadcast services business to a private equity-backed European competitor in a deal worth about €850m. People familiar with the deal said French broadcasting services provider TDF,
Deutsche Telekom buys US operator
Deutsche Telekom, Europe’s largest telephone group, underlined its determination to do business in the US on Monday by paying $2.4bn for SunCom Wireless, a mobile phone operator in southeast US. In the acquisition of SunCom,
CDS report: Invensys tighter on takeover talk
The upbeat mood in the European credit derivatives markets quickly disappeared on Thursday morning, with indices moving slightly wider from opening levels.
The iTraxx Crossover index of junk-rated credits opened tighter at 195.5 basis points,