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.
