Now That the T-Mobile Deal Is Dead, What Next for Sprint?
What a wild ride it's been for shares of Sprint (NYSE: S) over the last year. After the election of President Donald Trump, shares of the beleaguered wireless provider rallied, as many financial analysts thought a more business-friendly Federal Communications Commission under Republican chairman Ajit Pai would be more accepting of a merger with T-Mobile (NASDAQ: TMUS) than prior Democratic chairman Tom Wheeler.
As I wrote earlier this year, a merger seemed like a fait accompli when SoftBank CEO and Sprint chairman Masayoshi Son met with Trump in the lobby of his eponymous tower to discuss business investment. However, in spite of the FCC chairman noting "effective competition" in the U.S. market, a finding that signaled the agency would accept the merger, the two companies were unable to come to an agreement. Shares of Sprint rightfully dropped, continuing a trend that's existed all year -- after reaching an intraday high of $9.65 per share in January, shares are around $6 each as of Nov. 10.
Image source: Getty Images.
Source: Fool.com
