Feeds

T-Mobile US to raise nearly $2bn in share sale to splurge on spectrum

Mobile firm looks ahead to future government auctions

Reducing security risks from open source software

T-Mobile US has announced it will be selling off a bunch of new stocks to bring in nearly $2bn to spend on spectrum.

America's fourth largest mobile service provider said it would offer 66.15m common shares and use the proceeds for a whole bunch of vague corporate stuff and for "opportunistically acquiring additional spectrum".

T-Mobile's owner, Deutsche Telekom, was quick to confirm on Twitter that it was "very much committed" to the company. It said it wasn't selling its own shares, but its 74 per cent stake in the firm would be diluted down to 67 per cent by the public offering.

Investors appear to be uneasy about the move, with shares in T-Mobile dipping by three per cent in after-market trading after it announced the sale. If shares stay around the closing price of $26.97, the company stands to make $1.96bn from the new offering.

The next government spectrum auction is expected in January next year, when the spectrum assets of bankrupt telco LightSquared will be sold off. After that, an auction of spectrum licences currently owned by broadcasters is due some time next year or potentially in 2015.

Satellite TV company Dish Network is the only firm that has publicly said it's interested in scooping up LightSquared's spectrum, but mobile firms like T-Mobile, Sprint, AT&T and Verizon may still get involved in the auction. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.