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Thursday, September 11, 2014

Sprint seeks wireless partnerships to expand scale -CEO, (NYSE: TMUS)

Sprint Corp is seeking partners to expand its scale in the wireless market after the collapse of its long sought-after takeover of T-Mobile US Inc , Chief Executive Officer Marcelo Claure said on Thursday. "We are wide open to having discussions with cable companies, over the top companies, other wireless carriers," Claure said at a conference sponsored by Goldman Sachs.Such partnerships would allow Sprint to expand its reach and benefit from economies of scale, he said.Since being named Sprint CEO a month ago, Claure has underscored the importance of expanding coverage while cutting costs.Partnerships and acquisitions are a potential avenue to this goal even after Sprint and its parent company, SoftBank Corp , gave up pursuit of T-Mobile.

Shares of TMUS traded higher by 0.33% or $0.1/share to $30.62. In the past year, the shares have traded as low as $24.50 and as high as $35.50. On average, 4465660 shares of TMUS exchange hands on a given day and today's volume is recorded at 3008133.