Deutsche Telekom AG (DTEGY) shares traded sharply lower Tuesday following reports that Sprint Corp. (S) - Get Report may push back its merger talks with T-Mobile U.S., a unit of the German carrier, until later in the summer as it pursues a partnership with cable groups Charter Communications (CHTR) - Get Report and Comcast Corp. (CMCSA) - Get Report
Sprint shares were trading 7.99% higher in premarket trading Tuesday, with expectations that it would open at $8.65, after closing at $8.01 on Monday. Comcast shares were marked to open 0.4% higher.
Deutsche Telekom shares were marked 2.3% lower in the opening 30 minutes of trading in Frankfurt to change hands at €16.25 each and erase all of the stock's year-to-date gains.
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This article was written by a staff member of TheStreet.