3 Telecom Stocks Seeing Action: Verizon Gets Hit With First Lawsuit, Softbank Renews Sprint Deal, and T-Mobile’s Cheap Plan
Verizon Wireless (NYSE:VZ): The first lawsuit of what will likely turn into a deluge of lawsuit activity has been filed in the NSA-security debacle, and Verizon — as well as the executive office, NSA, and others — has been targeted for what the filing described as an “outrageous breach of privacy.” The order was directed at Verizon Business Services, used by plaintiff Larry Klayman, but did not detail what the type of Verizon service the other two plaintiffs have.
Sprint-Nextel Corp. (NYSE:S): Japanese firm Softbank has upped its bid for Sprint, from $20.1 billion to $21.6 billion as it launches efforts to block Dish Network’s (NASDAQ:DISH) rivaling bid of $25.5 billion. SoftBank would own about 78 percent of Sprint if the deal is approved, and it has pledged to invest another $1.9 billion in the company, on top of the $3.1 billion that it has already sunk into the carrier. Under the revised terms of the complex transaction, SoftBank agreed to shift over about $1.5 billion earmarked for Sprint itself to the company’s shareholders instead.
T-Mobile (NYSE:TMUS): Quietly and unde rthe noise made by WWDC and E3, T-Mobile unveiled its new monthly wireless plan, that clcoks in at $30 per month. For that minimal amount, the user is treated to unlimited data — that’s right, unlimited data, one of the biggest cash cows in wireless — along with unlimited texts. However, the drawback is the 100 minutes a day that the users are allotted. But if that’s a sacrifice that you can make, T-Mobile’s affordable plan is a steal.
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