Once again, Twitter, Alibaba, Sprint and T-Mobile US are the major stocks in the news today.
Sprint (NYSE:S) and T-Mobile (NYSE:TMUS) have agreed on a $32 billion merger. According to a WSJ report, recent regulatory developments convinced executives at Sprint and T-Mobile US to develop their telecommunications companies with joint forces. A deal approval is under way according to Wal Street Journal sources, even though Sprint and T-Mobile are still working on a formal contractual agreement, and the effort could fall through.. The terms involve Sprint paying around $40 a share for T-Mobile in an acquisition. The deal could be closed by the end of Q3 2014.
In the Financial Times, Twitter (NYSE:TWTR) is said to consider buying online music services to secure new growth sources. TWTR targets could include Soundcloud or Spotify, two major pure players of the online music industry.
For several months, NYSE TWTR is willing to attempt a large acquisition to expand from its core online messaging platform business. Twitter is in a business development spree to add a music service to its offering.
As IPO nears, Alibaba is said to buy half of football club Evergrande FC in China. Evergrande Group is a property developer involved in China real estate. The Group has announced the sale of 50% of its football club in Guangzhou (Mainland China) called Evergrande FC.
The buyer is none but Alibaba, the Chinese ecommerce giant with an IPO underway. Jack Ma is reported by the Financial Times to be a big fan of football / soccer. The ecommerce group is paying Rmb1.2bn ($191m) for the stake.