Corporate News Blog – T-Mobile Expands its Presence in Iowa By Acquiring Aureon’s Stake in iWireless

LONDON, UK / ACCESSWIRE / September 29, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for T-Mobile US, Inc. (NASDAQ: TMUS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=TMUS. The Company announced on September 26, 2017, that it has signed an agreement to acquire Aureon’s stake in Iowa Wireless (iWireless). iWireless is a Joint Venture (JV) of T-Mobile USA and Aureon. With the complete acquisition of iWireless, T-Mobile will become the sole wireless communication service provider in Iowa. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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iWireless is a leading regional wireless communications provider catering to customers in Iowa, western Illinois, and eastern Nebraska. The financial details and other terms of the deal were not disclosed. The deal is expected to close in late Q4 2017 or early Q1 2018, subject to getting requisite regulatory approval and completing customary closing conditions.

How the deal benefits T-Mobile?

The deal will allow T-Mobile to add iWireless’ 103 full-service Company stores and authorized-dealer outlets to its current network. Nearly 75,000 iWireless customers will benefit from this deal as they will get access to the complete Un-carrier benefits of T-Mobile and America’s Best Unlimited Network. Following the completion of the deal, all iWireless stores will be re-branded as T-Mobile.

The acquisition is a part of T-Mobile’s business strategy of expanding its LTE coverage and footprint. T-Mobile has already doubled its LTE coverage across America including the rural areas since 2015 and now covers approximately 315 million people. T-Mobile plans to expand LTE coverage to 321 million people by end of FY17. T-Mobile has plans for widening its LTE footprint for customers with its newly acquired 600 MHz spectrum, now that it has completed the rollout of 700 MHz Extended Range LTE. With the current acquisition, T-Mobile plans to expand its LTE coverage in Iowa in 2017 with plans of further investments and 600MHz deployment in the future.

The current acquisition also brings T-Mobile closer to its goals of having 17,000 branded locations across US by end of 2017. The Company has plans to expand and improve its existing network by opening 3,000 stores in 2017. These will include 1,500 T-Mobile stores and 1,500 MetroPCS stores.

Management comments

Commenting on the acquisition of Aureon’s stake in iWireless, John Legere, President and CEO of T-Mobile, said:

“We’re taking T-Mobile to every corner of the country and this deal shows our commitment to expanding in the heart of America. We’ve been disrupting the wireless industry for the benefit of consumers for the last five years now and customers in Iowa will be able to experience the benefits first-hand.”

Ron Keller, CEO of Aureon, added:

“T-Mobile, Aureon and our independent telephone Company partners built iWireless over a period of nearly 20 years. Going forward, iWireless will benefit from T-Mobile’s unrelenting focus on growth and continued investments in a high-quality network experience for their customers.”

About iWireless

iWireless is headquartered in West Des Moines, Iowa and was founded in 1997. The Company is a leading regional wireless communications provider serving Iowa, western Illinois, and eastern Nebraska. The Company is jointly owned by T-Mobile and Aureon.

About T-Mobile US

Bellevue, Washington headquartered T-Mobile US is a wireless network operator in US and offers wireless voice, messaging, and data services. The Company is a member of the T-Mobile International group, a mobile telecommunications subsidiary of Deutsche Telekom. The Company provides its services to over 69.6 million customers based on its advanced 4G LTE network. The Company provides its services through its subsidiaries and operates its flagship brands, T-Mobile and MetroPCS. As America’s Un-carrier, T-Mobile US is redefining the way consumers and businesses buy wireless services through leading product and service innovation.

The Company’s total revenue for FY16 was $37.2 billion.

Last Close Stock Review

On Thursday, September 28, 2017, the stock closed the trading session at $61.92, slightly down 0.75% from its previous closing price of $62.39. A total volume of 4.34 million shares have exchanged hands, which was higher than the 3-month average volume of 3.64 million shares. T-Mobile US’ stock price soared 2.69% in the last three months and 32.28% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 7.67%. The stock is trading at a PE ratio of 26.79. At Thursday’s closing price, the stock’s net capitalization stands at $50.92 billion.

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