Sprint Nextel Corp.’s shares jumped on Monday as rumors circulated that Deutsche Telekom might buy the embattled wireless carrier.
Sprint’s stock was trading for $8.22, up 33 cents, after the Wall Street Journal reported that Sprint and Deutsche Telekom executives are discussing a buyout. Still, that number was far from Sprint’s 52-week high of $23.42.
Deutsche Telekom owns T-Mobile USA, the fourth-largest wireless provider in the United States. If T-Mobile and Sprint were combined, they would create the No. 1 cellular company, ahead of AT&T Inc. and Verizon Wireless.
Such a deal also would be good for Deutsche Telekom, analysts are speculating, since the dollar is weak compared to the Euro.
Sprint and Deutsche Telekom aren’t commenting on the rumors.
