One Factor Driving Down Sprint (S) Today

NEW YORK (TheStreet) -- Sprint  (S) was falling 3.95% to $8.51 shortly on Wednesday on the heels of a report that said the wireless carrier's potential acquisition of T-Mobile US  (TMUS) could hit a snag with the U.S. Department of Justice.

Bloomberg reported Tuesday night that Sprint executives received some resistance from Justice Department antitrust officials about the possible purchase. Sprint reportedly said during a meeting with senior antitrust officials earlier this month that an acquisition of T-Mobile would allow for more vigorous competition with chief competitors Verizon  (VZ) and AT&T  (T), but the Justice Department officials were not convinced.

Bloomberg further reported that SoftBank, the majority owner of Sprint, is in active and direct talks with Deutsche Telekom, which owns T-Mobile, to solve any hurdles to a potential deal, though such a deal may not come for several months.

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