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  4. T-Mobile to offload wireline business to Cogent, expects $1 billion pre-tax charge
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T-Mobile to offload wireline business to Cogent, expects $1 billion pre-tax charge

(Reuters) -T-Mobile US Inc said on Wednesday it had agreed to sell its wireline business to Cogent Communications Holdings Inc in a deal that would also see T-Mobile provide some...
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T-Mobile to offload wireline business to Cogent, expects $1 billion pre-tax charge © Reuters. FILE PHOTO: A T-Mobile logo is advertised on a building sign in Los Angeles, California, U.S., May 11, 2017. REUTERS/Mike Blake

(Reuters) -T-Mobile US Inc said on Wednesday it had agreed to sell its wireline business to Cogent Communications Holdings Inc in a deal that would also see T-Mobile provide some services to Cogent for a fee.

The purchase price was not disclosed. T-Mobile said it expected to record a pre-tax charge of about $1 billion in the third quarter of 2022, to cover for the carrying value of the wireline business and a liability for the contractual payments of the transaction.

T-Mobile and Cogent did not immediately respond to a Reuters' request for comment on the deal value.

Cogent will acquire T-Mobile's fiber and related assets and certain liabilities associated with the business, helping it bolster its offering to consumers and enterprises, it said in a statement.

Once the transaction is closed, the parties will enter into a separate agreement pursuant to which Cogent will offer certain services to T-Mobile for $700 million, to be paid in tranches.

The deal will go through a newly formed direct subsidiary of Cogent, which said it did not plan to issue new debt or equity to finance the acquisition.

Cogent added that the deal was not expected to be dilutive to its existing stockholders, and that the company would continue to maintain its current dividend plan.

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01-05-2024 10:45:17 (UTC+7)

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 US Coffee C213.73↑ Sell
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 Small Cap 20001,973.05↑ Sell
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 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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