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Sprint Shares Soar 70% On Report of T-Mobile Merger

Sprint stock rockets higher following a report late Monday that its long-delayed merger with T-Mobile is about to be approved.

Shares of Sprint Corp.  (S)  rocketed 70% in after-hours trade Monday, following a published report that the company's pending merger with T-Mobile US  (TMUS)  is likely to be approved by a federal judge. 

A report from the Wall Street Journal late Monday said the court ruling could come Tuesday. 

Sprint stock ended the regular session Monday down 2.64% at $4.80, but shot up almost 70% to $8.10 in after-hours trading. T-Mobile shares added 8.25% after the bell. 

Sprint said when it posted its quarterly earnings Jan. 27 that it was optimistic about completing the remaining regulatory steps in its long-delayed $26 billion merger with T-Mobile U.S. Sprint posted a narrower-than-expected third quarter loss. 

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