Issa Asad and Q Link Puts Together Proposal to Purchase Boost Mobile
Many interested buyers are currently developing bids that range as high as $3 billion for the prepaid phone brand Boost Mobile. The company will be available for purchase as a result of the concessions offered by Sprint and T-Mobile.
Issa Asad FloridaQ Link Wireless Puts Together Proposal to Purchase Boost Mobile
According to CNBC, a rival brand known as Q Link Wireless is currently preparing a proposal to purchase Boost Mobile. Q Link Wireless is a South Florida-based company that is the third-largest provider of the Lifeline service government benefit program to low-income American residents.
“Being able to acquire Boost Mobile is a carefully thought-out strategic measure to help grow Q Link Wireless,” claimed Issa Asad, the Chief Executive Officer of Q Link Wireless.
Judging from the amount that Q Link is willing to offer, Boost Mobile may end up having a value that ranges from $1.8 billion to $3 billion. Clearly Asad is in a competitive mood.
The proposed merger between Sprint andT-Mobile recently received strategic support. The Federal Communications Commission (FCC) boss Ajit Pai gave a vote of support to the deal. This is definitely music to Asad’s ears.
What exactly made Pai happy about the merger? Well, the companies promised to extend 5G coverage to the cities and rural areas. They also promised to spin off Boost Mobile. These factors were more than enough to make Asad happy. However, champagne glasses are not clinking yet. The merger still requires a positive ruling from the US Department of Justice.
The prepaid wireless company FreedomPop seems to be headed for a takeover. A private equity group has been speaking with Stephen Stokols who is the company’s CEO. The group has projected that Boost Mobile could be worth $4 billion in future. Therefore, they are putting in a bid to buy FreedomPop and combine it with Boost.
Interestingly, the original founder of Boost Mobile, Peter Adderton, is interested in getting his baby back. In 2004, he went on to sell it to Nextel. However, with Boost Mobile on sale, Peter has expressed a desire to buy back his old company.
Peter’s interest in Boost is sure to cause discomfort for Asad. The founder and former owner even includes a condition in the deal. He is asking the regulators to make sure that after the merger, Sprint and T-Mobile are obliged to sell Boost off spectrum. This is so as to ensure that the mobile operator stays active and competitive in the sector.
Furthermore, Adderton desires that Boost be given a go ahead to make agreements concerning the mobile network with fellow operators. This makes sure that Boost does not get tied down to the merging companies.
Asad is relying on a few factors to guide his decision to purchase Boost Mobile. He has revealed that these factors will include:
◦ The quality of Boost Mobile customers
◦ Their churn level
◦ The devices that their customers use
◦ The phone plans that they subscribe to
So far, Issa Asad has not received any of these details. However, the delay in revealing this information does not deter his intention to purchase the one-time rival company.
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