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European telecom has eyes on Sprint Nextel
Europe's biggest telecom firm may be planning to pick up America's third largest wireless company. The Wall Street Journal reports that Deutsche Telekom is considering a bid to acquire Sprint Nextel Corporation. Deutsche Telekom already owns T-mobile USA, the fourth biggest wireless company. Buying Sprint Nextel would rocket the German firm to the No. 1 spot in the U.S. wireless market. Investors reacted to the news by pulling back from Deutsche Telekmon. Shares fell by 1.2 percent today. But Sprint may be getting a bump from the attention. Shares were up in pre-market trading.
Posted by Lori Stassi on May 5, 2008 8:09 AM PT | Permalink
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