T-Mobile/Sprint could sell Boost Mobile for as much as USD 3bn
Potential suitors are readying their offers for Boost Mobile, an Irvine, California-based prepaid wireless phone company, of up to USD 3bn, according to a newswire.
Q Link Wireless, a prepaid phone carrier, and Peter Adderton, Boost's founder, told Reuters they are interested in Boost.
Q Link Wireless, in tandem with private equity, is assembling a bid of USD 1.8bn to USD 3bn, Q Link CEO Issa Asad said. Adderton would not quote a valuation.
Stephen Stokols, FreedomPop CEO, is working with a private equity firm that values Boost at USD 4bn. Cowen Inc analysts gave Boost a USD 4.5bn valuation if a deal included wireless spectrum, facilities and 7 million to 8 million customers.
The US Federal Communications Commission approved the USD 26bn Sprint and T-Mobile merger last week on the proviso the carriers agree to concessions including the divestment of Boost Mobile. The merger still needs US Department of Justice approval.
The story is here
Stocks in Asia retreated along with U.S. and European equity futures, and sovereign bond yields plumbed multi-year lows as investors gauge the warning signals flashing in the fixed-income market.
Shares in South Korea bore the brunt of losses and Japan was down about 1%, while those in Hong Kong and China posted modest declines. The rally in 10-year Treasuries further inverted a part of the yield curve watched for its history of signaling recessions. Japanese government bond yields slid deeper into negative territory, New Zealand’s 10-year rates hit a record low and Australia’s fell below the central bank’s policy rate. The dollar edged up.
The yuan was mostly steady after the People’s Bank of China injected the most in money market operations since January.
US After Hours HEI +8%, NXGN +4% following earnings/guidance, BLMN +6.5% on S&P SmallCap 600 addition news
Nikkei -1.20% Hang Seng -0.10% CSI +0.04% Shanghai +0.38% Shenzen +0.22%
Eur$ 1.1165 CNH 6.9304 CNY 6.9131 JPY 109.25 GBP 1.2664 CHF 1.0060 RUB 64.7937 TRY 6.0423 WTI$ 58.59 -0.93%
S&P -0.28% EuroStoxx -0.69% FTSE -0.54% Dax -0.70% SMI -0.84%
Macro :
- Merkel and Macron Already in Disagreement Over Top EU Job (1)
Keep an eye on :
- ALPH SW : EOS, Primeo Complete CHF489m Purchase of EDF’s 25% Alpiq Stake
- ALPH SW : Alpiq to Be Delisted Promptly Upon Offer Completion on Oct. 9
- AT1 GY: Aroundtown First Quarter Adjusted Ebitda EU179.6 Mln
- BAMI IM : Banco BPM Announces New Organizational Structure, Names New CFO
- BEI GY : Beiersdorf May Be Ready to Use Balance Sheet for More M&A: Lampe
- CA FP : Carrefour Brasil, Magazine Luiza Rise on ‘Assertive’ Partnership
- CO FP : Casino Group Decided Not to Pay Interim Dividend in 2019
- COFB BB : Cofinimmo Buys German Nursing Home for At EU14m at 5.5% Yield
- DBK GY : Deutsche Bank Considers Lower Capital Ratio Target: Handelsblatt
- DBK GY : Trump Suit to Block Deutsche Bank Subpoenas on Hold
- DHER GY : Egypt Says Delivery Hero, Glovo Violated Competition Law
- DUE GY : Duerr Moved Back to Buy as 2019 Pessimism Unjustified: Baader
- EDF FP : EDF May Keep 65%-70% of Power Distribution, Renewables: AFP
- EDF FP : EOS, Primeo Complete CHF489m Purchase of EDF’s 25% Alpiq Stake
- ECP FP : Pathe in Talks With EuropaCorp to Buy Majority Stake: Les Echos
- EKTAB SS : Elekta Fourth Quarter Operating Profit 4.0% Above Estimates
- ELIOR FP : Elior Cuts 2018-2019 Revenue Organic Growth Guidance
- EQNR NO : Sonangol Says Equinor Agreed to Jointly Explore Congo Basin
- GEN DC : Genmab Files for U.S. IPO of American Depositary Shares
- HLNG NO : Hoegh LNG First Quarter Ebitda Beats Estimates
- IIA AV : Immofinanz Still Sees ‘Possible Combination’ With S Immo
- KBX GY : Knorr-Bremse Sees Full Year Ebitda Margin 18.5% To 19.5%
- EGP PL : Mota-Engil Wins Soyo Port Contract in Angola Worth EU270m
- OCY NO : Ocean Yield, Aker Energy Agree to Extend Charter for FPSO
- ODL NO : Odfjell Drilling Gets Commitments for 2019 Debt Refinancing
- ONXEO FP : Onxeo AsiDNA Phase 1 Meets Primary Safety & Activity Endpoints
- PSM GY : *MEDIASET AGREES TO BUY 9.6% IN GERMANY'S PROSIEBENSAT.1 -->PSM +10% on TradeGate
- RNO FP : Nissan Says Tentatively Not Against Renault-Fiat Merger: Nikkei
- RNO FP : Renault's Message to Nissan: Fiat Deal Is Good for All of Us (2)
- RNO FP : Fiat's Renault Merger Plan Gives Nissan Less Room to Maneuver
- RNO FP : Renault Poised to Give Nod to Fiat Merger as Soon as Next Week
- TC1 GY : Tele Columbus 1Q Revenue EU120.1m; Confirms FY 2019 Guidance (1)
- TTI GY : Tom Tailor Board Chair Resigns as Talks With Fosun Continue
- VAR1 GY : Varta Acquires Varta Consumer Batteries Business From Energizer
- VEC LN : Vectura Sees Earnings in Line With Guidance
- VWS DC : Vestas Secures 147 MW Order of V150-4.2 MW Turbines in Brazil
- WARN SW : Warteck Invest Expects to Raise CHF76.7m in Capital Increase
- WDI GY : Wirecard Says Goldman’s Total Voting Rights 3.53% as of May 20
>>> Up
* Accor Upgraded to Neutral at MainFirst; PT 36 Euros
* Beiersdorf Upgraded to Buy at Bankhaus Lampe
* Danone Raised to Buy at LBBW
* Duerr Upgraded to Buy at Baader Helvea; Price Target 43 Euros
* EDP Renovaveis Upgraded to Outperform at BBVA; PT 10 Euros
* Lundbergforetagen Upgraded to Buy at DNB Markets; PT 360 Kronor
* PhotoCure Upgraded to Buy at Norne Securities; PT 56 Kroner
* REN Upgraded to Market Perform at BBVA; PT 2.40 Euros
* Sartorius Upgraded to Buy at Bankhaus Metzler; PT 190 Euros
* Serco Upgraded to Outperform at RBC; PT 1.50 Pounds
* Telefonica Deutschland Raised to Neutral at Macquarie
>>> Down
* Bechtle Cut to Hold at Baader Helvea; Price Target 112 Euros
* Ocean Yield Downgraded to Hold at Kepler Cheuvreux; PT 62 Kroner
* SSAB Downgraded to Add at AlphaValue
>>> Initiation
* Distribution Finance Capital Rated New Outperform at Macquarie
* Diploma Rated New Overweight at JPMorgan; PT 16.78 Pounds
* Electrocomponents Rated New Neutral at JPMorgan; PT 5.91 Pounds
* Network International Rated New Buy at Liberum; PT 6.50 Pounds
* Sunrise Rated New Outperform at MainFirst; PT 80 Francs
* Swisscom Rated New Underperform at MainFirst; PT 450 Francs
* Thule Rated New Hold at Kepler Cheuvreux; PT 235 Kronor
* Ultra Electronics Rated New Hold at Jefferies; PT 17.75 Pounds
* Valmet Rated New Hold at SEB Equities; PT 24 Euros
>>> Call
After Hours Summary: HEI +8%, NXGN +4% following earnings/guidance, BLMN +6.5% on S&P SmallCap 600 addition newsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: HEI +8%, NXGN +3.8%, RAMP +1.3%
Companies trading higher in after hours in reaction to news: SOLY +52.9% (after closing 150% higher on the day), BLMN +6.5% (to join S&P SmallCap 600), ZIOP +5.4% (enters into exclusive license agreement with National Cancer Institute for development of cell therapies for cancer), BDSI +4.7% (announces debt refinancing), PLUG +2.2% (announces new agreement with electric vehicle manufacturer StreetScooter), GOOS +2% (ahead of earnings tomorrow), MOMO +0.9% (was upgraded before the close to Buy at Citigroup)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: WDAY -0.6%
Companies trading lower in after hours in reaction to news: INO -10.2% (Inovio Pharma received notification from AstraZeneca's MedImmune of plans to discontinue research collaboration activities), SUI -1.8% (announces public offering of 3.25 mln shares of common stock), INVH -1% (announces commencement of secondary offering of 40.0 mln shares of common stock by certain selling stockholders affiliated with Blackstone)