German phone giant said to go for Sprint

Shares of Sprint Nextel Corp. jumped more than 10% Monday in the wake of reports saying that Deutsche Telekom AG might make a buyout offer and combine Sprint with T-Mobile USA, the German phone giant's American subsidiary.

In recent action, shares of Sprint U.S.-listed shares fell a few pennies to $13.79.

The U.K. Telegraph reported Sunday that Deutsche Telekom had hired an adviser explore a potential bid for Sprint. A Sprint spokesman declined to comment.

Rumors of a tie-up between Sprint, the No. 3 mobile operator in the United States, and T-Mobile, the No. 4 carrier, have circulated for several years.

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- Posted: 2009-09-14 12:14:23

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