United States

Sprint shares soar on report judge to OK T-Mobile merger

Shares of Sprint soared more than 60 percent in late trading Monday on a report that a federal judge will OK its $26 billion merger with T-Mobile, creating the nation’s second largest carrier. Manhattan federal judge Victor Marrero is expected to rule in favor of a Sprint/T-Mobile marriage amid an antitrust fight brought by a group of attorneys general, the Wall Street Journal reported Monday. Judge Marrero is set to rule in favor of Sprint/T-Mobile as soon as Tuesday, the paper said. Sprint shares surged 63 percent to $7.83, well above its closing price of $4.80 a share. T-Mobile added 10 percent to $93 a share. The US Department of Justice and the Federal Communications Commission have approved the deal, but attorneys general in ...