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Report: Sprint in talks to buy T-Mobile
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03/08/11 01:55 PM ET
Sprint Nextel has discussed purchasing T-Mobile USA from Deutsche Telekom AG, according to report from Bloomberg.
The deal would combine the third and fourth largest wireless carriers in the U.S., creating a significant competitor to market leaders Verizon and AT&T. Sources told Bloomberg the talks are preliminary, and no deal is imminent.
According to the report, both firms haven't been able to agree on a valuation for T-Mobile. Deutsche Telekom would retain a significant stake in the combined entity.
Sprint shares rose more than 7 percent on news of the talks and remain up more than 6 percent as of Tuesday afternoon.
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