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MarketScreener Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

SOFTBANK GROUP CORP

(9984)
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U.S. judge sets pre-trial hearing next week for Sprint/T-Mobile deal

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06/13/2019 | 04:07pm EDT
A pedestrian uses her smart phone as she passes a T-Mobile retail store in New York City

WASHINGTON (Reuters) - The judge hearing a complaint from state attorneys general seeking to stop T-Mobile US Inc from buying Sprint Corp for $26 billion (£21 billion) will hold a pre-trial hearing next week.

Judge Victor Marrero of U.S. District Court for the Southern District of New York set the hearing for June 21, in response to a request for an expedited hearing.

Ten states, led by New York and California, filed a lawsuit on Tuesday aimed at stopping the merger of the No. 3 and No. 4 national wireless companies, saying that the deal would cost Sprint and T-Mobile subscribers more than $4.5 billion annually.

The Federal Communications Commission has agreed in principle to approve the deal while the U.S. Justice Department is believed to be nearing a final decision.

The companies have offered to sell the Boost brand currently owned by Sprint to reduce the combined company's market share in the prepaid business. They have also indicated they were considering divesting wireless spectrum.

T-Mobile indicated in a filing on Thursday that its attorneys will include George Cary and David Gelfand, who oversaw litigation at the Justice Department's Antitrust Division during the Obama administration when there were at least three major merger challenges.

Sprint has filed that its attorneys will include Karen Hoffman Lent and Steven Sunshine of Skadden, Arps, Slate, Meagher & Flom LLP, who have handled some of the biggest antitrust cases in the past 10 years.

(Reporting by Diane Bartz; Editing by Susan Thomas and Leslie Adler)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 0.65% 14.836 Delayed Quote.-0.55%
SOFTBANK GROUP CORP 7.05% 5450 End-of-day quote.-22.20%
SPRINT CORP 1.29% 7.09 Delayed Quote.21.82%
T-MOBILE US 0.62% 78.14 Delayed Quote.22.84%
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Financials (JPY)
Sales 2020 9 719 B
EBIT 2020 1 246 B
Net income 2020 1 310 B
Debt 2020 12 693 B
Yield 2020 0,62%
P/E ratio 2020 9,28x
P/E ratio 2021 15,8x
EV / Sales2020 2,40x
EV / Sales2021 2,38x
Capitalization 10 671 B
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Mean consensus BUY
Number of Analysts 17
Average target price 7 211,88  JPY
Last Close Price 5 450,00  JPY
Spread / Highest target 94,5%
Spread / Average Target 32,3%
Spread / Lowest Target 11,0%
EPS Revisions
Managers
NameTitle
Masayoshi Son Chairman, President & Chief Executive Officer
Raul Marcelo Claure Chief Operating Officer & Director
Norikazu Oba Manager-Finance & Planning
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
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