T-Mobile sells wireline business to Cogent for $1, expects hefty charge [Reuters]
Cogent Communications Holdings, Inc. (CCOI)
Last cogent communications holdings, inc. earnings: 2/27 07:00 am
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Source: Reuters
Cogent Communications Holdings Inc (CCOI.O) for $1, while taking a $1 billion charge on the transaction. The deal includes a $700 million contract under which Cogent will provide transit services to the carrier for 4-1/2 years after the deal closes. T-Mobile has been turning its attention away from the wireline business that includes assets from its $26 billion acquisition of Sprint Corp in 2020. In the most recent earnings call, Chief Executive Michael Sievert said the company was no longer using Sprint infrastructure to support its wireless business and that an asset review was underway. The wireline business houses communications systems, data processing equipment and fiber optic cable, and earned $739 million in revenue last year. "We think that T-Mobile must be receiving some sort of discount on the IP transit services that they will be buying from Cogent contractually, and they will save on the costs that they'd otherwise have to keep, maintain and improve (the infrast
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News
- KBRA Assigns Preliminary Rating to Cogent IPv4 LLC, Series 2024-1 [Yahoo! Finance]Yahoo! Finance
- Cogent Communications to Host First Quarter 2024 Earnings Call on May 9, 2024 [Yahoo! Finance]Yahoo! Finance
- Cogent Communications to Host First Quarter 2024 Earnings Call on May 9, 2024PR Newswire
- Cogent Communications (CCOI) Fell on Market Correction [Yahoo! Finance]Yahoo! Finance
- Cogent Communications Holdings, Inc. (NASDAQ: CCOI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
CCOI
Earnings
- 2/29/24 - Beat
CCOI
Sec Filings
- 4/19/24 - Form 8-K
- 4/2/24 - Form 4
- 4/1/24 - Form 4
- CCOI's page on the SEC website