Cogent Communications Holdings, Inc. ("Cogent") (NASDAQ: CCOI), one of the largest Internet service providers in the world, today announced a time change for Dave Schaeffer's, Cogent's Chief Executive Officer, presentation at the following conference:
Cogent Communications Holdings, Inc (NASDAQ: CCOI) agreed to snap T-Mobile US, Inc's (NASDAQ: TMUS) Wireline Business. The financial terms of the transaction remain undisclosed. T-Mobile expected to record a pre-tax charge of $1 billion in the third quarter of 2022 to cover the carrying value of the wireline business and liability for the contractual payments, Reuters reports. The Wireline Business offers the legacy Sprint U.S. long-haul network that eventually provides an owned network asset to
T-Mobile US Inc is doubling down on 5G services after it struck a deal on Wednesday to sell its wireline business to Cogent Communications Holdings Inc for $1, while taking a $1 billion charge on the transaction. The deal includes a $700 million contract under which Cogent will provide transit services to the carrier for 4-1/2 years after the deal closes. T-Mobile has been turning its attention away from the wireline business that includes assets from its $26 billion acquisition of Sprint Corp in 2020.