Nov 5, 2017

SoftBank to up its Sprint stake in wake of failed T-Mobile deal

AP

SoftBank, which already owns a majority stake in Sprint, said Sunday it plans to increase its holdings after talks to merge with T-Mobile US broke down. SoftBank said it will keep its holdings below the 85% threshold that would trigger a tender offer for the remaining shares.

"We are entering an era where billions of new connected devices and sensors will come online throughout the United States," SoftBank CEO Masayoshi Son said in a statement. "Continuing to own a world class mobile network is central to our vision of ubiquitous connectivity. Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers and we are very confident in its future."

Why it matters: If it isn't going to join up with T-Mobile, Sprint will have to increase its network spending and chart a new path. The carrier is currently the smallest of the Big 4 U.S. cell phone networks and its capital expenditures have trailed that of rivals in recent years.

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Trump admin won't reopen ACA enrollment for uninsured amid outbreak

President Trump speaks while flanked by Vice President Mike Pence during the daily coronavirus task force briefing at the White House on Tuesday. Photo: Win McNamee/Getty Images

The Trump administration has decided not to reopen enrollment to uninsured Americans for the Affordable Care Act's Healthcare.gov marketplaces, an official confirmed to Axios Wednesday.

Driving the news: President Trump said last week he was considering the move in response to the novel coronavirus outbreak, notes Politico, which first reported the news.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 937,091 — Total deaths: 47,231 — Total recoveries: 193,764Map.
  2. U.S.: Total confirmed cases as of 11:30 ET: 216,515, — Total deaths: 5,119 — Total recoveries: 8,593Map.
  3. Business updates: Small businesses are bearing the brunt of the coronavirus job crisis.
  4. World updates: Spain’s confirmed cases surpassed 100,000, and the nation saw its biggest daily death toll so far. More than 500 people were reported dead within the last 24 hours in the U.K., per Johns Hopkins.
  5. State updates: Florida and Pennsylvania are the latest states to issue stay-at-home orders — Michigan has more than 9,000 confirmed cases, an increase of 1,200 and 78 new deaths in 24 hours.
  6. Stock market updates: Stocks closed more than 4% lower on Wednesday, continuing a volatile stretch for the stock market amid the coronavirus outbreak.
  7. 1 future thing: Shifts to telemedicine, at-home diagnostics, and drone delivery are all likely lasting consequences from this pandemic.
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Fauci's security beefed up following threats

Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, during the daily coronavirus task force briefing at the White House on Tuesday. Photo: Win McNamee/Getty Images

Security has been stepped up for Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, after he received "growing threats to his personal safety," the Washington Post reported Wednesday.

Why it matters: Fauci as the top U.S. infectious diseases expert plays a leading role in the U.S. response to the novel coronavirus pandemic.

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