Mobile

T-Mobile Shares Drop After Company Details Plan for Follow-On Offering

Published on November 11, 2013
by Ina Fried

NYSE Floor

T-Mobile said Monday that it plans to sell 66 million shares in an effort to bulk up its corporate war chest to potentially acquire spectrum or make other capital improvements.

Underwriters will also have an option to purchase up to an additional 6.6 million shares.

Shares, which had closed lower during regular trading, dropped a further 87 cents, or 3.2 percent, following T-Mobile’s announcement.

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