Watching Telephone And Data Systems; Shares Spike Higher After WSJ Reported 'T-Mobile, Verizon In Talks To Carve Up U.S. Cellular'
Portfolio Pulse from Benzinga Newsdesk
Shares of Telephone and Data Systems (TDS) experienced a significant increase following a report by the Wall Street Journal stating that T-Mobile and Verizon are in discussions to potentially divide U.S. Cellular among themselves. This news suggests a major shakeup in the telecommunications sector, potentially impacting the competitive landscape and market shares of the involved companies.
May 09, 2024 | 5:24 pm
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Telephone and Data Systems' stock price spiked following reports of potential acquisition talks involving its U.S. Cellular operations by T-Mobile and Verizon, indicating a significant market reaction.
The spike in TDS shares is directly attributed to the Wall Street Journal's report, which suggests a potential acquisition or carve-up of U.S. Cellular. Such a move could lead to a revaluation of TDS's assets and future earnings potential, making it more attractive to investors in the short term.
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