Monday morning, AT&T held a webcast where they outlined their plans regarding the acquisition of T-Mobile. While AT&T and T-Mobile were having their webcast, Sprint was watching their stocks fall.
Sprint being the third largest wireless carrier has quite a bit to lose if this AT&T/T-Mobile merger does happen. Sprint will easily fall to last place since T-Mobile won’t be around anymore, and will also be far behind their rivals, Verizon and AT&T. This doesn’t even include the burden of Clearwire, who is on the brink of collapse without the potential sale to T-Mobile.
The AT&T/T-Mobile news is having some major effects already, and the deal hasn’t even been finalized yet. Sprint has been the hit the worst so far by their stocks falling more than 13% by the time the market closed. They are now trading at $4.36.