Sprint Shares Plummet after AT&T & T-Mobile Deal

Sprint Nextel Corporation Comm Stocks Plummet on news of AT&T and T-Mobile deal.

Sprint Nextel Corporation Comm(NYSE:S) has seen share fall drastically this morning by nearly 16.5%. Heading into the midday trading hours the Sprint Nextel shares have seen an $.80 drop to $4.20 per share with nearly 160 million shares traded, three times the average daily volume.

This comes as rival AT&T essentially snatched up Sprints only opportunity to catch the telecommunications giant by agreeing to buy T-Mobile USA. Sprint was also in talks with T-Mobile to merge its operations. With such a deal in place, Sprint is left a distant third with seemingly no way to make up ground on the top 2.

On the heels of the T-mobile, AT&T announcement Sprint did announce it plans to partner with Google allowing customers to attach existing phone numbers to Google’s “Google Voice” service. Sprint will also sell Google’s android based “Nexus S” smartphone starting this spring.

About Sprint Nextel Corporation
Sprint Nextel Corporation offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands.

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