Sprint Shares Tanking Thanks To AT&T Plan To Buy T-Mobile

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.

Read more on the the future of Sprint here >

Chart

Photo: Yahoo

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.