Why T-Mobile US (TMUS) Stock Is Down Today

NEW YORK (TheStreet) -- T-Mobile US (TMUS) was falling 3% to $32.03 Tuesday after announcing a new joint venture with Sprint (S).

The new joint venture will raise $10 billion to use in a low-frequency spectrum auction next year, according to The Wall Street Journal. The funds for the joint venture are reportedly part of a $45 billion financing package SoftBank (SFTBF) is preparing for a potential bid to merge Sprint and T-Mobile.

The low-frequency spectrum in the auction is better for rural areas and in-building wireless coverage.

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TMUS ChartTMUS data by YCharts

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