Deals
T-Mobile to Sell $1.8 Billion in Stock to Buy Airwaves
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T-Mobile US Inc., the country’s fourth-largest mobile-phone carrier, plans to sell shares valued at almost $1.8 billion, raising money it could use to acquire wireless airwaves.
The secondary offering of 66.2 million shares will be managed by Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Credit Suisse Group AG and Deutsche Bank AG, T-Mobile said yesterday. The $1.8 billion valuation is based on the stock’s closing price of $26.97 in New York yesterday. T-Mobile will grant the underwriters the option to buy as many as 6.62 million additional shares.