Filed under: Deals

Sprint (NYSE: S) may have found a buyer. The interested party is German phone giant Deutsche Telekom NYSE: DT). DT owns the fourth largest cellular carrier in the US. Sprint has the third largest network, but has struggled to keep subscribers since it bought rival Nextel.

Sprint’s shares are trading at $7.81 down from $25 less than two years ago. The firm has had financial troubles because of customers losses and has fallen well behind AT&T (NYSE:T) and Verizon Wireless. Combining Sprint and T-Mobile would create a strong, third competitor in the US market.

Sprint has no solution to building out a 4G network that will allow it to remain competitive a less than a decade from now. Its plans to spend $5 billion on a national WiMax grid have been slowed and perhaps killed by the company’s financial and operational problems.

Continued at 24/7 Wall St.

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This entry was posted on Friday, May 9th, 2008 at 12:18 pm and is filed under Engagements and Deals News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.