merger

Sprint flirted with others before partnering with SoftBank

Sprint Nextel played the field a bit before committing to a merger with SoftBank, according to a merger proxy document filed by Sprint this week with the Securities and Exchange Commission.

The nation's third-largest wireless carrier had discussions with at least four companies, though the specific names weren't revealed.

The wheeling and dealing underscores the trend toward industry consolidation, spurred partly by competition, as well as by the need for more wireless spectrum. Sprint, in particular, was in both a financial and spectrum bind prior to the SoftBank deal.

Before the SoftBank deal, Sprint had discussions with "… Read more

Viggle, GetGlue terminate plans to merge

There could be some trouble in social TV land. Viggle and GetGlue, two competing companion mobile applications for television viewers, announced they have terminated their agreement to merge.

Viggle, a TV loyalty platform that automatically identifies the shows people are watching, said in November that it would acquire TV guide and manual checkin app GetGlue for $25 million and 48.3 million shares. The split is being described as cordial by both sides.

"During the time we started talking to GetGlue about an acquisition and since the merger agreement was signed in November, we have seen impressive growth in … Read more

HP now target of a lawsuit over Autonomy troubles

In what could be the beginning of many lawsuits, Hewlett-Packard is now reportedly being sued by an investor over the brewing Autonomy kerfuffle.

Reuters reported today an investor is suing HP, claiming that the company knew its statements about its Autonomy acquisition were misleading, which led the stock to fall.

The proposed class action lawsuit, Nicolow v. Hewlett-Packard, was filed at the U.S. District Court, Northern District of California in San Francisco.

For reference, there is a lot of unrest surrounding HP after it was revealed that the tech giant lost $8.8 billion over its purchase of Autonomy … Read more

MetroPCS shareholders sue over T-Mobile merger

With the news of the T-Mobile USA and MetroPCS merger just settling, company shareholders have filed a lawsuit trying to block the deal.

According to the TMONews, MetroPCS shareholders are calling the deal "drastically undervalued" and claiming that MetroPCS' board is "conflicted and serving its own financial interests." The lawsuit was filed in Dallas, Texas against MetroPCS, T-Mobile USA, its German parent company Deutsche Telekom, and MetroPCS' CEO and board of directors.

"The process leading to the proposed acquisition was tainted by conflicts, tilted towards T-Mobile and driven entirely by the board and company management, … Read more

Sprint in no hurry to raise stakes for MetroPCS merger

Sprint appears to be taking a wait-and-see approach on a possible acquisition bid for MetroPCS.

The No. 3 wireless carrier is delaying a counteroffer in an effort to examine Deutsche Telekom's plan to merge the prepaid carrier with T-Mobile, sources tell Bloomberg. The company is reportedly holding its counteroffer for a chance to see Deutsche Telekom's proxy filing to examine details of the German communications giant's negotiations.

CNET has contacted Sprint for comment and will update this report when we learn more.

Deutsche Telekom, which owns T-Mobile, announced a plan last week to buy MetroPCS and combine it with T-Mobile. … Read more

What T-Mobile's merger with MetroPCS means to you (FAQ)

Deutsche Telekom is doubling down on its U.S. wireless subsidiary T-Mobile USA with a plan to buy the prepaid regional carrier MetroPCS. But what's it mean for wireless subscribers?

Yesterday, Deutsche Telekom announced it had agree to buy MetroPCS and combine it with T-Mobile USA. The move is an indication that T-Mobile's German parent isn't giving up on the wireless carrier, which spent most of last year in a holding pattern while regulators considered AT&T's $39 billion bid to buy the company. Regulators didn't like the idea of the No. 2 AT&… Read more

Sprint mulls outbidding T-Mobile for MetroPCS

Sprint may want MetroPCS for itself.

Bloomberg reports that the number-three U.S. wireless carrier is considering its own offer for prepaid provider MetroPCS, which yesterday announced a deal with Deutsche Telekom to merge with the U.S. wireless provider T-Mobile.

The news service says that Sprint, which had been close to its own deal to buy MetroPCS earlier this year, is talking to advisers about whether it should offer a higher price to buy the company. Sprint had been re-evaluating a play for MetroPCS a few weeks ago before T-Mobile announced its deal, unnamed sources told Bloomberg.

On Wednesday, … Read more

T-Mobile CEO: MetroPCS deal is no Sprint-Nextel repeat

The planned merger between nationwide carrier T-Mobile USA and prepaid provider MetroPCS is not a repeat of the failed merger between Sprint and Nextel back in 2005, T-Mobile CEO John Legere said during a conference call with the press today.

This deal, he said, is about gaining more spectrum in an effort to challenge bigger competitors like AT&T and Verizon Wireless.

"This is not a Sprint/Nextel do-over," Legere said. "This deal is not about simply surviving. It's about driving growth. When we add MetroPCS to the aggressive challenger strategy (of T-Mobile) it will … Read more

Wireless shakeup: T-Mobile to merge with MetroPCS

Deutsche Telekom, parent company to T-Mobile USA, said Wednesday it has struck a merger deal with prepaid regional carrier MetroPCS.

According to the agreement, MetroPCS shareholders will get $1.5 billion in cash and a 26 percent stake in the combined company. Deutsche Telekom will own the remaining 74 percent of the company.

The deal requires regulatory approval from the Federal Communications Commission and U.S. Department of Justice. The deal is expected to close in the first half of 2013.

"We are extremely pleased to announce this transaction with MetroPCS, which enhances Deutsche Telekom's position in the … Read more

T-Mobile parent in talks for deal with MetroPCS

T-Mobile USA's parent, Deutsche Telekom AG, and MetroPCS confirmed today that they are in talks to combine operations.

Both companies sent out statements confirming recent speculation that a potential deal was brewing. Here are their respective comments:

Deutsche Telekom:

Deutsche Telekom is holding talks with the listed company MetroPCS with the aim of operating its subsidiary T-Mobile USA and MetroPCS within one company in which Deutsche Telekom would hold the majority of shares.

The talks are at a stage where significant issues have not yet been finalized, contracts have not yet been signed and the conclusion of the transaction … Read more