Current price: $8.52
Expected Takeover Price: $7.5
Upside: 12%
Renegotiation date: TBD
T-Mobile US (TMUS), mcap=$180bn, price $144 vs $134
Dominant wireless growth position with the best network and best value in 5G. Two years ahead of $VZ and $T in deployment. From ’24 onwards set to generate $15-20/share in FCF taking into account synergies from the Sprint merger. A massive $60bn+ capital return program (70% of free float) will materially shrink the share count.