Sprint, T-Mobile sink following report that merger talks are over
- Nikkei reported on Monday that Sprint and T-Mobile planned to end merger talks.
- SoftBank, the Japanese telecom company that owns Sprint, insisted on retaining a controlling stake after Deutsche Telekom, T-Mobile's owner, showed interest in taking control, the report said.
- Sprint shares were halted for volatility shortly after the news crossed. They plunged by as much as 13% after trading resumed.
Sprint and T-Mobile shares sank on Monday after Nikkei reported that SoftBank Group planned to end negotiations for a merger of the two wireless carriers.