T-Mobile Remains Positive Sprint Buy Will Be Completed, Says CEO
While T-Mobile waits to see if it can complete its buy of Sprint, the bigger, would-be buying carrier Thursday reported 1.3 million branded postpaid net additions in Q4 and 4.5 million in 2019. The companies await a ruling from U.S.…
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District Judge Victor Marrero for the Southern District of New York on the challenge of 14 states to block the transaction (see 2001150077). “The state AG trial has concluded and our team did an incredible job making our case and backing it up with the facts,” CEO John Legere said on a call with analysts: “We are 100 percent convinced that this merger will result in a more competitive market, with lower prices and a better network for customers.” T-Mobile remains “confident in a positive outcome,” Legere said: “The facts are on our side.” Legere sat in the front row of Marrero's courtroom Jan. 15 during four hours of closing argument. The California Public Utilities Commission won’t vote until at least March (see 2001290029). T-Mobile is interested in citizens broadband radio service licenses but doesn’t view them as “transformative,” Chief Technology Officer Neville Ray said: “We know a lot about CBRS already. We see it as primarily as small-cell spectrum layer” limited by power levels. T-Mobile reported record service revenue of $8.7 billion, up 6 percent over the year-ago quarter, total revenue of $11.9 billion, up 4 percent. Profit was $751 million, up 61 percent. T-Mobile has postpaid churn of 1.01 percent. Legere will step down May 1, to be replaced by Mike Sievert, currently president-chief operating officer (see 1911180038). “We gained [customer] share and were the only one to beat expectations for service revenues and adjusted EBITDA during Q4,” Sievert told analysts. T-Mobile expects Q1 deal-related costs of as much as $300 million.