CED
Published on CED (https://www.cedmagazine.com)

Home > Sprint Shares Surge on Report of Suitor

Sprint Shares Surge on Report of Suitor

NEW YORK (AP) — Shares of Sprint Nextel Corp. surged more than 10 percent by midday Monday after the U.K.'s Sunday Daily Telegraph reported Deutsche Telekom AG is considering making a bid for the U.S. telecommunications company.

Sprint, the country's third largest wireless service provider, has been struggling to hold on to customers because of a reputation for poor service and customer support.

Its stock climbed 41 cents, or 10.8 percent, to $4.18 in midday trading. The stock has traded between $1.35 and $7.57 over the past year.

The Telegraph reported Sunday that Germany's Deutsche Telekom, which operates cell phone provider T-Mobile USA, has hired banking advisers to explore a bid for Sprint. The company's U.S. shares fell 10 cents to $13.77 in midday dealings.

In response the Telegraph report, Deutsche Telekom said, "We do not comment on rumors and speculation."

James Fisher, a spokesman for Overland Park, Kan.-based Sprint, also said Monday the company doesn't comment on market rumors.

Citi Investment Research analyst Michael Rollins put the likelihood of an acquisition at under 30 percent in a report Monday.

Rollins said such a takeover would faces risks in integrating the companies' technology, clearing regulatory hurdles and maintaining good credit terms as Sprint's cash flow comes under pressure from a declining subscriber base.

More Broadband Direct 09/15/09:
•  AT&T adds free enhancements to U-verse video service [1]
•  Motorola powers Chinese MSO's new VOD platform [2]
•  Clearwire tests 4G WiMax network in Silicon Valley [3]
•  Report: Time Warner CFO brushes off Comcast merger rumor [4]
•  MTS Allstream, Ciena team on business services [5]
•  Connexion opts for BelAir Wi-Fi equipment [6]
•  Sprint Shares Surge on Report of Suitor [7]
•  Sprint merger might diminish competition [8]
•  Qwest Unveils New Backhaul Service [9]
•  Broadband Briefs for 09/15/09 [10]

 

Content Item Type: 
News [11]
Meta Canonical URL: 
http://www.cedmagazine.com/news/2009/09/sprint-shares-surge-on-report-of-suitor
Summary: 
Shares of Sprint Nextel Corp. surged more than 10 percent by midday Monday after the U.K.'s Sunday Daily Telegraph reported Deutsche Telekom AG is considering making a bid for the U.S. telecommunications company.
Contributed Author: 
The Associated Press
Legacy NID: 
57 630
Advertisement
googletag.cmd.push(function() { googletag.display("dfp-ad-clone_of_wallpaper"); });

Deeper Insights

<% if ( rc.ss_related_image_url != null ){ %>
?cmpid=regwallcontent&utm_source=Deeper%20Insights">">
<% } %>

?cmpid=regwallcontent&utm_source=Deeper%20Insights" + ""><%- rc.label %>

<% if ( rc.ss_search_logo != null ){ %>
">
<% } %>
(function() { var _fbq = window._fbq || (window._fbq = []); if (!_fbq.loaded) { var fbds = document.createElement('script'); fbds.async = true; fbds.src = '//connect.facebook.net/en_US/fbds.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(fbds, s); _fbq.loaded = true; } _fbq.push(['addPixelId', '745881082149515']); })(); window._fbq = window._fbq || []; window._fbq.push(['track', 'PixelInitialized', {}]);
(function(d,s,i,r) { if (d.getElementById(i)){return;} var n=d.createElement(s),e=d.getElementsByTagName(s)[0]; n.id=i;n.src='//js.hs-analytics.net/analytics/'+(Math.ceil(new Date()/r)*r)+'/1743435.js'; e.parentNode.insertBefore(n, e); })(document,"script","hs-analytics",300000);

Connect with CED

  • Facebook
  • Twitter
  • YouTube

Resources

  • About Us
  • Advertising Info
  • Contact Us
  • Contributor Guidelines
  • Digital Editions
  • Directory FAQs
  • Privacy Policy
  • Product Announcement Form
  • Subscriptions
  • Terms & Conditions

Topics

  • Broadband
  • Cable/Satellite
  • Content Delivery Networks
  • Fiber Optics
  • Networking
  • Pay TV
  • Policy Regulation
  • Software Defined Networking
  • Telecommunications

© Copyright 2018 Advantage Business Marketing

var _qevents = _qevents || []; (function() { var elem = document.createElement('script'); elem.src = (document.location.protocol == "https:" ? "https://secure" : "http://edge") + ".quantserve.com/quant.js"; elem.async = true; elem.type = "text/javascript"; var scpt = document.getElementsByTagName('script')[0]; scpt.parentNode.insertBefore(elem, scpt); })(); _qevents.push({ qacct:"p-jsEPJWTckjCbE" });
Quantcast
googletag.cmd.push(function () { googletag.display("dfp-ad-roadblock_modal"); });
"" style="border: 0px; vertical-align: bottom;">
&nbsp;
googletag.cmd.push(function() { googletag.display("dfp-ad-roadblock_modal"); });

Source URL: https://www.cedmagazine.com/news/2009/09/sprint-shares-surge-on-report-of-suitor

Links
[1] https://www.cedmagazine.com/News-ATT-free-enhancements-U-verse-video-091509.aspx
[2] https://www.cedmagazine.com/News-Motorola-Chinese-MSO-VOD-platform-091509.aspx
[3] https://www.cedmagazine.com/News-Clearwire-4G-WiMax-network-Silicon-Valley-091509.aspx
[4] https://www.cedmagazine.com/News-Time-Warner-CFO-Comcast-merger-rumor-091509.aspx
[5] https://www.cedmagazine.com/News-MTS-Allstream-Ciena-team-business-services-091509.aspx
[6] https://www.cedmagazine.com/News-Connexion-BelAir-Wi-Fi-equipment-091509.aspx
[7] https://www.cedmagazine.com/News-Sprint-Shares-Surge-091509.aspx
[8] https://www.cedmagazine.com/News-Sprint-merger-diminish-competition-091509.aspx
[9] https://www.cedmagazine.com/News-Qwest-New-Backhaul-Service-091509.aspx
[10] https://www.cedmagazine.com/News-Broadband-Briefs-091509.aspx
[11] https://www.cedmagazine.com/content-item-types/news