Hedge Fund News From HedgeCo.Net

Hedge fund bets on T-Mobile takeover

Kansas City Star – Third Point LLC, the hedge fund founded by activist investor Dan Loeb, bought a stake in wireless carrier T-Mobile US Inc., betting that the company could be acquired by Sprint Corp. or Dish Network Corp.

Third Point bought shares at $25 apiece when T-Mobile conducted a secondary offering in November, Loeb said Tuesday in a letter to investors. Third Point was attracted by T-Mobile’s takeover prospects, as well as its improving operating performance and relative valuation compared with peers.

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