Sprint’s shares are down nearly 16% less than 24-hours it was announced that AT&T would be buying T-Mobile.
That deal, valued at $39 billion, takes a potential Sprint buyer in AT&T out of the market. Instead, Sprint may have to turn buyer itself, and acquire some of the industry’s smaller names to keep pace, according to SAI’s Dan Frommer.
Sprint may yet be bought by another big name, like Verizon, but clearly the market is pricing in a reduced purchase premium for the company after AT&T’s big buy.
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