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Feb. 11, 2020, 8:50 a.m. EST

Sprint share rocket 77% premarket as T-Mobile gains 10% after judge approves merger

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By Ciara Linnane

Sprint Corp. shares soared 77% in premarket trade Tuesday, while T-Mobile US Inc. /zigman2/quotes/204659678/composite TMUS -0.41% /zigman2/quotes/205973137/delayed DE:DTE -0.71% was up 10%, after a judge approved the companies' merger plan. U.S. District Judge Victor Marrero said the $26 billion deal was not likely to stifle competition in the U.S. wireless market, the Wall Street Journal reported, as some states seeking to block the deal were arguing. "T-Mobile has redefined itself over the past decade as a maverick that has spurred the two largest players in its industry to make numerous pro-consumer changes," the judge wrote, adding that a closed deal would allow it to continue "T-Mobile's undeniably successful business strategy for the foreseeable future." Sprint shares have fallen 19% in the last 12 months, while T-Mobile shares have gained 23% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.56% has gained 24%.

Read the full story:
The judge who cleared the T-Mobile-Sprint merger says he relied on witness demeanor and not numbers to make his decision

/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 106.17
-0.44 -0.41%
Volume: 3.96M
July 9, 2020 4:00p
P/E Ratio
26.15
Dividend Yield
N/A
Market Cap
$132.07 billion
Rev. per Employee
$832,885
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/zigman2/quotes/205973137/delayed
DE : Germany: Frankfurt
14.77
-0.11 -0.71%
Volume: 14,921
July 9, 2020 8:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€350,787
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/zigman2/quotes/210599714/realtime
US : S&P US
3,152.05
-17.89 -0.56%
Volume: 2.60B
July 9, 2020 5:11p
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