Notes
Slide Show
Outline
1
Sprint Sum-of-Parts Valuation Analysis
  • Chandan Sarkar
  • csarkar@balistes.com
  • 2/14/08
2
Conclusions
  • The analysis suggests that fair value for Sprint ranges from
    an extremely conservative case of $7.00/sh to an aggressive
    estimate of $25.00/sh. The two largest swing factors in the
    analysis are:
  • how much the spectrum is worth on a per
    MHz/POP basis and
  • How much each existing wireless sub is worth


3
Spectrum Prices Trending Up
4
Spectrum Price: Base Case
5
Sprint Valuation Models
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Subscriber Valuation on Takeover
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Valuation Based on Subscriber Value
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Sum of Parts
Valuation
9
Comcast Denies Interest in Sprint
  • "To be clear, we are not spending any time on any of the large transformative acquisitions that have been speculated about like Yahoo or Sprint," [Brian] Roberts added.


  • - Reported by Reuters following CMCSA’s earnings report on 2/14/08