By Alexander Bueso
Date: Tuesday 11 Feb 2020
LONDON (ShareCast) - (Sharecast News) - Shares of telecommunications carrier Sprint were catapulted higher after a US judge gave the thumbs-up to its plans for a merger with T-Mobile.
District Judge Victor Marrero said the two companies' plans for a tie-up were not likely to restrain competition in America's wireless market, the Wall Street Journal reported.
Quite the opposite, on numerous occasions over the past decade, T-Mobile's actions had in fact spurred the sector's two main players to be more consumer-firendly, Marrero argued.
And a combination with Sprint would see the continuation of T-Mobile's "undeniably successful business strategy for the foreseeable future".
Shares of Sprint soared by 71.25% to $8.23 on the back of the news.
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Currency | US Dollars |
Share Price | $ 23.29 |
Change Today | $ 0.61 |
% Change | 2.67 % |
52 Week High | $30.00 |
52 Week Low | $15.15 |
Volume | 1,765,669 |
Shares Issued | 4,068.42m |
Market Cap | $94,733m |
Beta | 1.69 |
RiskGrade | 39 |
Time | Volume / Share Price |
13:34 | 100 @ $23.29 |
13:34 | 118 @ $23.29 |
13:34 | 100 @ $23.28 |
13:34 | 400 @ $23.28 |
13:34 | 100 @ $23.28 |
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