Sprint Corp and T-Mobile might have some fresh arguments to allay regulator skepticism about a merger, but the government may still be reluctant to approve shrinking the U.S. wireless market from four main players to three. Analysts said a decline in shares of both companies on Thursday reflected those high regulatory hurdles. T-Mobile closed 2.3 percent lower and Sprint 4 percent lower.Sprint, purchased by Japan's Softbank Corp in 2013, has agreed to pay about $40 per share, or over $32 billion, for T-Mobile US, a person familiar with the matter said on Wednesday, bringing to a head a long-discussed and controversial deal to reshape the U.S. cellphone market.But top U.S. antitrust and communications enforcers have already warned that the wireless market is too concentrated. In 2011 the Justice Department stopped a bid by AT&T Inc, No. 2 in the market, to purchase struggling T-Mobile.Top dog Verizon Communications Inc and AT&T each have roughly twice as many subscribers as either Sprint or T-Mobile, in the third and fourth spots by numbers of subscribers.
AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T traded higher by 0.14% or $0.05/share to $35.10. In the past year, the shares have traded as low as $31.74 and as high as $36.86. On average, 28226100 shares of T exchange hands on a given day and today's volume is recorded at 22263932.
Shares of TMUS fell by 2.3% or $-0.79/share to $33.49. In the past year, the shares have traded as low as $20.31 and as high as $35.50. On average, 4408590 shares of TMUS exchange hands on a given day and today's volume is recorded at 12040809.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 0.26% or $0.13/share to $49.28. In the past year, the shares have traded as low as $45.08 and as high as $51.94. On average, 23575100 shares of VZ exchange hands on a given day and today's volume is recorded at 9846633.
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