We Are Increasing our FVE for Both T-Mobile US and Sprint Based on Merger
On April 29, T-Mobile US agreed to acquire Sprint for 0.10256 T-Mobile shares per Sprint share. After modeling in $18 billion in net present value of synergies which accounts for the costs needed to generate those savings and our expectations for additional marketing and retention offers, we have increased our fair value estimate for T-Mobile US to $73 per share from $67. This increase assumes a 50% probability of the deal going through. Thus, we credit T-Mobile with 50% of the cost savings, but...Sprint is a holding company. Through its subsidiaries, the company is a communications company providing wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers. The company has two segments: Wireless, which provides wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis, including the sale of wireless services that utilize the company's network but are sold under the wholesaler's brand; and Wireline, which provides a suite of wireline communication services to other communications companies and targeted business customers, as well as voice, data and internet protocol communication services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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