3 Telecom Stocks Seeing Action: Verizon’s New Deal, Sprint’s Board Addition, T-Mobile May Drop Q10
Verizon Wireless (NYSE:VZ): Verizon Communications’s buyout of Vodafone’s (NASDAQ:VOD) 45 percent stake of the Verizon Wireless venture became official as of Monday — the British telecommunications firm will sell its share for $130 billion. Vodafone will receive $58.9 billion in cash, $60.2 billion in Verizon stock (which will go to Vodafone’s shareholders), and $11 billion from other transactions; it will return $23.9 billion of the cash it receives to shareholders, and the company said it will “increase the total 2014 dividend per share by 8 percent.”
Sprint Corp. (NYSE:S): Sprint added Sara Martinez Tucker to its board of directors as the eighth member of the carrier’s advisory panel. Tucker previously served the U.S. Department of Education as undersecretary of education and prior to that was CEO of the Hispanic Scholarship Fund for nine years. However, she comes well endowed with telco knowledge, having spent 16 years at AT&T.
T-Mobile US (NYSE:TMUS): TmoNews is reporting that T-Mobile may be pulling BlackBerry’s Q10 from its retail stores and selling the phone online only, or “Direct Ship,” according to a forum post on CrackBerry. While it’s unclear whether it will be a nationwide effort — T-Mobile has not formally addressed the issue — the move could indicate a substantial lack of interest in what was supposed to have been BlackBerry’s lifeline device.