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Why Sprint (S) And T-Mobile (TMUS) Are Falling Today

Stocks in this article: S TMUS

NEW YORK (TheStreet) -- T-Mobile (TMUS) may not merge with Sprint (S) in the near future, but U.S. mobile consolidation is still a possibility according to Deutsche Telekom CEO Tim Hoettges.

Shares of T-Mobile were falling 2.1% to $31.15 and Sprint was down 3.6% to $8.79 Thursday following Hoettges' comments.

In an earnings press conference Hoettges said "I don't want to insist on consolidation, but I won't rule it out." After regulatory opposition to the recent potential bid for T-Mobile by Sprint, the market will remain a race between the big four carriers for the moment. 

Hoettges said T-Mobile has a good standalone position, and that it's building out. According to Bloomberg Hoettges is now "taking a long-term view" of T-Mobile in the U.S., and is looking to convert the carrier's large number of prepaid customers to postpaid plans.

Deutsche Telekom currently owns 67% of T-Mobile.

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TMUS ChartTMUS data by YCharts

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