Legere: Yes I do.
Q: You said, "Nobody is interest in the wi-fi phone... Charter will be irrelevance squared." You said that?
Legere: Among other things.
Legere: And I'm still afraid of him.
Q: If you could look at Exhibit 1105. And please, do not put this up on the screen. [Why not?] It's an email from you to Mr. Huttges?
Legere: Correct.
Q: You're aware some companies told the FCC they were opposed to the merger, including DISH?
Legere: That is correct.
Legere: Correct.
Legere: And the FCC took it into account in this DISH remedy.
Q: But this reflects what T-Mobile thought of DISH.
Objection!
[state of corporate mind]
Judge Marrero: Overruled
Legere: Yes, we could lower them.
Q: But you could raise them too! It's not covered by the agreement.
Legere: The agreement wasn't intended to cover it.
Legere: Yes. But we're working on that.
Q: And your spectrum assets vary by market?
Legere: I would assume that's true.
Legere: And a very successful one.
Q: And you make public presentations?
Legere: Very entertaining ones.
Q: And you criticize Sprint?
Legere: Less and less.
Legere: Analysts fear price wars. We didn't want analysts believe there was one in the US market
Legere: I've headed public companies for 20 years. I check every morning at 9:30. If it's down, I ask, What're you hearing about there. In case shareholders ask questions.
Q: You said, I think it's the Sprint deal, not Kevin's note.
Q: Let's go to 980, page 3. From Clint Paterson, he forwards you a proposed release about a MetroPCS offer, letting T-Mobile customers switch over
Legere: We owe MetroPCS, but when you put me on it, you use the magenta brand. We're very careful about that.
Q: This is from Mr. Carey. Who is he?
Legere: He's in the back of the room, looks like me, EVP.
Legere: He was advising me for an interview with the WSJ.
Legere: He wrote that he was thinking out loud.
Q: You said you are making AT&T irrelevant.
Legere: 50% of the customers I've won are from them. Carey said irrelevant, not me
Legere: Yes.
Legere: I'm sure my personal communication was even stronger... None of Sprint's promotional offers have been sustainable.
Q: Here's your email about Altice-
Legere: I was in Tokyo, talks with Sprint broke off
Q: It's clear Sprint has not been an irrelevant competitor to T-Mobile.
Legere: We've been seeing 2015, let's look more recently.
Q: Sprint has customers.
Legere: Less that yesterday.
Legere: Competition in wireless is very fierce.
Pomerantz: No further questions.
Now re-direct: I have just a few questions about what Mr. Pomerantz asked.
Legere: That's for that. For me there's two important things here. Nothing about this deal has anything to do with four to three, the exact opposite. We were in the early phase of turning around T-Mobile USA
Legere: There are no existing alternatives, with self-funding through synergies. For Sprint there no alternative on the low band spectrum that they have.
No further questions.
Judge Marrero: Some say Sprint today is what T-Mobile was in 2012. If T-Mobile was able to achieve this, why not Sprint, without merger?
Legere: Thank you your Honor. T-Mobile's situation was nothing compared to Sprint today
Judge Marrero: We see stories, about flower-children in the 1960, now you find them as investment bankers. The relevance is the idea that if T-Mobile gets this, it will become one of the boys
Judge Marrero to Legere: "You may step down, you are excused.
"Our next witness is Mr Mike Sievert, for about 2 hours."
Sievert: In 2012, when Mr Legere did.
Q: What's the business plan of new T-Mobile?
Sievert: To take the un carrier to the next level
[Need coffee. But Judge Marrero has disallowed it anywhere in his courtroom patreon.com/posts/32312374
Sievert: That's correct.
Q: It talks about T-Mobile bringing real broadband to underserved rural Americans for the first time.
Sievert: Sure, let me explain
Inner City Press: It doesn't sound like it. And people are literally falling asleep. Is that the prospective merger partners' strategy?
Sievert: Nationwide.
Inner City Press: This whole segment has been akin to an advertisement, dripping with faux enthusiasm. Thankfully, not your average SDNY trial: innercitypress.com/sdny7bronxrapk…
Q: If you could focus on my question it would be helpful. Would the board, led by DT, have the power to remove you?
Sievert: Yes.
Q: And lenders, they just want to be paid back, they don't care how?
A: Would you like an explanation?
Q: Respectfully sir, each side has a tight clock, if they want to get that out of you I'm sure they will.
Inner City Press: this is interesting, internal document showing coordination or signaling on price even before the proposed merger. Will Judge Marrero ask about this?
Q: An email at the bottom of Exhibit 898, you asked, What's the fastest time to the all unlimited offer. You wrote, I think Sprint may be headed that way, just a guess.
A: We had already been planning Un-carrier 12.
A: Not sure.
Q: I will help you with that. Let's go to the exhibits. 1067. It has the press release when the transaction was called off.
The States so far seem to be focusing more on presenting evidence of the *perception* of competition rather than hard data about actual competition. What will Judge Marrero's view be? patreon.com/posts/32312374
Sievert: Yes.
Q: And there another auction now, & T-Mobile has registered to bid in it, right?
Sievert: Correct.
Q: You have a roaming agreement with Sprint?
Sievert: It would stay in place if the merger falls apart.
Sievert: I don't think this plan got executed.
Judge Marrero: We'll certainly consider that.
Neville Ray: I've been building our network for 25 years, and I'm still not done. That's why this merger with Sprint is so great. I can select the best sites from Sprint.
Neville Ray: We will decommission them. Then under the deal with DOJ, we'll offer them to DISH. They can avoid years of work.
Q: Describe the qualify of the sites.
Ray: Nothing inferior, in key metro areas.
#AnnalsOfAdvocacy
Neville Ray: There is massive financial support to the companies from South Korea and China.
No follow up from Judge Marrero. For now.
Neville Ray: Absolutely not.
Q: Let's turn to the regulatory commitments. Can you meet them?
Ray: Certainly. We have three and six years.
Q: Are you aware of dynamic spectrum--
Ray: Yes.
Ray: It doesn't create new spectrum. This is not a solve or cure. It will help on the margin. This combination with Sprint is all about creating new capacity. DSS is a marginal feature
On Monday afternoon, a witness from DISH - and they say they want to close the courtroom. Really? We'll have a story on today, then more on this. patreon.com/posts/32312374