Da-Chief
07-16-2008, 08:50
http://i.dslr.net/urls/72/4172.gif (http://www.dslreports.com/shownews/The-Sprint-Acquisition-That-Wasnt-96142)
Yesterday CNBC (http://www.cnbc.com/id/25691970) jumped the gun, announcing that (according to those infamous "people familiar with the talks") South Korea Telecom was preparing to acquire the troubled Sprint. As it turns out, Reuters (http://today.reuters.com/news/articlehybrid.aspx?type=comktNews&rpc=33&storyid=2008-07-15T213138Z_01_N15347587_RTRIDST_0_BUSINESS-SPRINT-SK-DC.XML) quotes the even better known "sources familiar with the matter" who say the two companies are simply in talks to collaborate on technology, not planning to merge. Sprint's stock certainly benefited from yesterday's gossip, jumping as high as eighteen percent at one point.
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Yesterday CNBC (http://www.cnbc.com/id/25691970) jumped the gun, announcing that (according to those infamous "people familiar with the talks") South Korea Telecom was preparing to acquire the troubled Sprint. As it turns out, Reuters (http://today.reuters.com/news/articlehybrid.aspx?type=comktNews&rpc=33&storyid=2008-07-15T213138Z_01_N15347587_RTRIDST_0_BUSINESS-SPRINT-SK-DC.XML) quotes the even better known "sources familiar with the matter" who say the two companies are simply in talks to collaborate on technology, not planning to merge. Sprint's stock certainly benefited from yesterday's gossip, jumping as high as eighteen percent at one point.
More...