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Tuesday, November 12, 2013

T-Mobile considers buying spectrum from private party, (NYSE: TMUS)

T-Mobile US Inc is considering buying spectrum from an unidentified private party and would use some of the proceeds of a planned $2 billion share offering to finance such a deal, the company said in a regulatory filing on Tuesday.On Monday, after the market close, the company announced an offering of up to roughly 72 million shares and said it could purchase wireless airwaves using proceeds from the sale. The share sale could represent the fourth biggest secondary offering so far this year, according to Reuters data.T-Mobile, the No. 4 U.S. mobile operator, said in the filing that it would not participate in a spectrum auction the U.S. government plans to hold in January, leaving investors in suspense over what spectrum it is looking to buy.BTIG analsyt Walter Piecyk said T-Mobile could potentially be looking into buying spectrum from privately held Aloha Partners, which has spectrum in 12 of the top 50 U.S. markets but does not operate a wireless network.

Shares of TMUS fell by 3.26% or $-0.88/share to $26.09. In the past year, the shares have traded as low as $16.01 and as high as $29.50. On average, 2779830 shares of TMUS exchange hands on a given day and today's volume is recorded at 9551215.