Here’s something that’s a bit strange. We all know that part of the reason that T-Mobile’s coverage is bad (at least indoors) is due to the spectrum they have. Which makes us wonder why they aren’t taking part in this spectrum auction taking place in January. On Tuesday, T-Mobile announced that they were selling off 66 million shares, to raise money for purchasing spectrum, which made a lot of us excite about how they would spend that $1.8-2 billion they had raised. It now turns out that the H-Block spectrum is now on the auction list for January. According to Reuters:
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“NEW YORK, Nov 12 (Reuters) – T-Mobile US Inc said on Tuesday it would not participate in a spectrum auction the U.S. government plans to hold in January but still left investors in suspense over how it will use the proceeds from a roughly $2 billion stock offering.”
Right now we don’t know exactly how T-Mobile is planning to sell that roughly $2 billion it raised, I’m sure it’ll be put to good use, hopefully to strengthen their network. So far it’s still unclear what magenta plans on doing with it, hopefully we’ll learn more soon. Right now, all we know is that the share value of T-Mobile dropped as soon as news of its stock sale had hit the internet.
This could just be a move by the company’s chiefs that will help out T-Mobile grow and become a genuine contender to Verizon and AT&T. Which is exactly what I want. T-Mobile has the best plans, and basically the same phones as the rest of the competition, but where they are behind is in coverage. Since T-Mobile has steadily been improving it’s network all year and gaining more and more subscribers each quarter, that is definitely a strong possibility.
What do you think T-Mobile is going to do with that $2 billion they raised? I’m hoping they’ll buy some towers and expand their coverage, but who knows. Let us know what you think in the comments below.