Cross-Market Commentary: AT&T - T-Mobile USA Deal Sends Shockwaves Through Industry Mar 11
Standard & Poors, March 2011
Abstract
AT&T's recent announcement to purchase T-Mobile USA for $39 billion sent shockwaves across equity markets. The Valuations and Risk Strategies research team wanted to look at how the deal has so far affected the pricing of common shares of some leading U.S. telecommunication services firms. We examined the common share performance of the top 20 publicly traded companies by market capitalization and looked for issues that have become particularly relevant to investors because of the merger. The S&P 500 telecommunication services index increased by 0.53% from March 18 to March 23. In the same period, more than half (11) of the companies we surveyed managed to outpace that performance. The results of our query are listed in the table below....
Companies mentioned in this report are:
- CenturyLink Inc.
- Frontier Communications Corp.
- Sprint Nextel Corp.
- Telephone and Data Systems Inc.
- AT&T Inc.
- United States Cellular Corp.
- Qwest Communications International Inc.
- NII Holdings Inc.
- Crown Castle International Corp.
- Level 3 Communications Inc.
- TW Telecom Inc.
- American Tower Corp.
- Leap Wireless International Inc.
- Verizon Communications Inc.
- SBA Communications Corp.
- T-Mobile US Inc.
- Windstream Corp.
- Hughes Communications Inc.
- Clearwire Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- CenturyLink Inc.
- Frontier Communications Corp.
- Sprint Nextel Corp.
- Telephone and Data Systems Inc.
- AT&T Inc.
- United States Cellular Corp.
- Qwest Communications International Inc.
- NII Holdings Inc.
- Crown Castle International Corp.
- Level 3 Communications Inc.
- TW Telecom Inc.
- American Tower Corp.
- Leap Wireless International Inc.
- Verizon Communications Inc.
- SBA Communications Corp.
- T-Mobile US Inc.
- Windstream Corp.
- Hughes Communications Inc.
- Clearwire Corp.
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