All articles tagged with #wireless industry
Verizon's unexpected CEO change to Daniel Schulman has caused a stir in the wireless industry, leading to concerns about increased competition and potential price cuts, which impacted the stocks of Verizon, T-Mobile, and AT&T, signaling a possible shift towards more aggressive strategies to regain market share.
T-Mobile has agreed to acquire most of U.S. Cellular's wireless operations, including all stores and customers, in a $4.4 billion deal that also includes up to $2 billion in debt. The acquisition aims to provide more coverage and capacity, especially in areas with limited options, and to increase competition with AT&T and Verizon. This move follows T-Mobile's recent acquisitions of Mint Mobile and Ultra Mobile, and its 2020 merger with Sprint.
T-Mobile announced a $4.4 billion deal to acquire most of U.S. Cellular, adding 4 million customers, hundreds of stores, and expanded rural reach. The acquisition, expected to close mid-next year, will enhance T-Mobile's spectrum rights and spur competition against AT&T and Verizon.
AT&T's Q1 results showed subscriber growth but missed revenue expectations, causing shares to fall. The company added 424,000 postpaid phone plans, matching Wall Street expectations but marking a dip compared to previous numbers. AT&T executives expect wireless industry growth to return to "normalized" levels this year. The carrier's operations produced $1 billion in free cash flow, which was below analyst estimates, but executives remain confident they will meet their forecast to generate around $16 billion in free cash flow this year.
T-Mobile is acquiring Mint Mobile, a low-cost wireless brand co-owned by actor Ryan Reynolds, in a cash and stock deal valued at up to $1.35 billion. Reynolds will stay on in a creative capacity and continue to appear in Mint Mobile's ads. The deal gives T-Mobile another prepaid brand that caters to lower-income users, but doesn't bring new customers to T-Mobile. Mint Mobile resells service using T-Mobile's network. The companies didn't disclose how many customers Mint Mobile has.