Telekom shares dip 1.5% on report of Sprint Nextel bid

By
USA Today
September 14, 2009, 9:29 AM ET
1 min read

FRANKFURT -- Shares of Germany's Deutsche Telekom were down 1.5% in trading Monday after a British newspaper reported that the communications company may be studying a bid for Sprint Nextel.

Bonn-based Deutsche Telekom dt, one of Europe's biggest telecommunications company and the operator of cellphone provider T-Mobile USA, had no comment on the report, saying "We do not comment on rumors and speculation."

The Sunday Daily Telegraph cited sources as saying that Deutsche Telekom had called in banking advisers to study a possible multi-billion dollar bid for Sprint Nextel s, based in Overland Park, Kan. It is currently the third-biggest wireless provider in the United States.

Telekom shares were down 1.5% to euro9.39 ($13.70) in early afternoon trading in Frankfurt.

_