Tuesday, March 8, 2011

Sprint Rallies In Pre-Market Trading

Shares of Sprint Nextel Corp. (NYSE: S) rallied more than 5% in pre-market trading after Bloomberg reported that the third-largest US mobile-phone carrier has held talks with Deutsche Telekom AG to buy its  T-Mobile USA unit. The companies haven’t been able to agree on the valuation of T-Mobile USA, Bloomberg said, citing people with knowledge of the matter. Talks have included discussion of Deutsche Telekom owning about 50 percent of a combined T-Mobile USA-Sprint. Stay tuned for more.

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