Sprint Expands in Midwest and 4 Telecom Titans Attracting Interest
Sprint Nextel Corp. (NYSE:S) is purchasing U.S. Cellular markets in the Midwest for $480 million as a way to boost its network capacity in the region. Sprint Nextel Corp. is the third-largest U.S. cellphone carrier, and it stated on Wednesday that it is buying spectrum and 585,000 customers in Illinois, Indiana, Michigan, Missouri and Ohio. Covering about 10 percent of U.S. Cellular’s customer base, including its key markets in Chicago and St. Louis markets.
Vodafone Group plc (NASDAQ:VOD): Vodafone Ghana chose The Now Factory’s Mobile Moments solution to improve the customer experience of its 4.3 million subscribers. Vodafone Ghana is to have an accurate and real-time understanding of the manner in which its customers use mobile data services. Mobile Moments will provide visibility on the ways that customers use mobile data services, allowing Vodafone Ghana to optimize the customer experience in real-time, as it reduces operational costs and drives new revenue streams.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
Leap Wireless International Inc. (NASDAQ:LEAP) total capital expenditures for continuing maintenance and development of the company’s network during 2013 will likely be approximately 10 percent, as a percentage of the company’s service revenues.
Juniper Networks, Inc. (NYSE:JNPR): Earlier on a conference call, Plexus (NASDAQ:PLXS) stated that Juniper expects to be fully transitioned away from Plexus as a supplier by the conclusion of Plexus’ FY13. Plexus sees Juniper’s revenue totaling about $220 million to $270 million during FY13, versus Juniper’s revenue of $370 million for Plexus in FY12. Plexus stated that Juniper made up nearly 60 percent of it revenue for FY12.
Clearwire Corporation (NASDAQ:CLWR): Crest Financial, which is an investment firm that is based in Houston, sent a letter to Mount Kellett Capital Management about issues concerning the rights and economic position of the minority shareholders of Clearwire considering Clearwire’s relationship with Sprint (NYSE:S) and Clearwire’s liquidity issues related to the Clearwire’s build-out program. The letter states: “Crest, with its affiliates, currently owns (…) approximately 6.62 percent of the company’s outstanding Class A stock. (…) Crest also has been monitoring the recent developments associated with the Merger Agreement between Sprint, the company’s dominant shareholder, and Softbank Corporation. It appears that the Softbank-Sprint merger may not be in the company’s best interest and may threaten the interests of the company’s minority shareholders. (…) Crest believes that immediate steps to raise capital through the offering and sale of additional common shares would be among the steps a board of directors, acting in the best interests of all shareholders, would pursue. (…) together with proceeds from the sale of a portion of the company’s excess spectrum to a third party or parties, would ensure a successful build-out of the company’s network and bolster the company’s position as it renegotiates the lease of its spectrum to Sprint. (…) Crest is concerned that Softbank and Sprint are positioning themselves to obtain the exclusive benefit from the company’s valuable spectrum and assets through the Merger Agreement at the expense and to the detriment of the company and its minority shareholders. (…) We believe that, properly managed, the Softbank-Sprint merger proposal presents an opportunity to benefit not only the interests of all shareholders, but also the public interest. Improperly managed, the merger could harm minority shareholders and the public at large.(…)”