Deutsche Telekom eyes up Sprint takeover
0 Comments | AFP, May, 2008
BERLIN (AFP) — German telecommunications giant Deutsche Telekom is examining a possible bid for loss-making US mobile provider Sprint Nextel, Germany's Der Spiegel said Saturday.
"The Sprint project is top priority," the weekly news magazine said, while specifying that there is "for the moment" no formal offer for shares or a takeover attempt and no active negotiations.
Number three in the US mobile market, Sprint, if allied to Deutsche Telekom's T-Mobile USA affiliate, could rival America's number one provider, AT&T Wireless.
Sprint is seen as a "soft target" for Europeans because of a weak dollar against the euro and a fall in share value, Der Spiegel said, ahead of publication of the weekly magazine on Monday.
The company has posted steep 2007...
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