Reports that Sprint is considering a bid for...
Reports that Sprint is considering a bid for T-Mobile (CD Dec 16 p15) appeared to come from a leak inside Sprint, BTIG said in a research note Thursday. BTIG said this was unusual since the risk is that reports could…
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drive up the price of T-Mobile, working against Sprint’s interest. “Companies leak possible deals if they are interested in how shareholders would react but SoftBank owns 80 percent of Sprint,” BTIG said. “Sprint might be expecting strong Q4 results from T-Mobile and wanted to establish a benchmark for an ‘unaffected stock price’ on T-Mobile before that rise,” the firm said. The leak also could send a message to other possible buyers or even to regulators that a deal could be on the way, BTIG said.