Shares of telecommunications companies rose amid deal speculation. Shares of 21st Century Fox surged following reports that entertainment conglomerate Walt Disney was exploring a bid for some of the studio's television assets. Part of the assets under discussion was Fox's 39% stake in Sky, the U.K.-based pay-television giant, which 21st Century Fox is attempting to take over for the second time. Sprint said it would increase spending on its network, spending $5 billion to $6 billion annually in the coming years, up from the $3.5 billion to $4 billion it projected for this fiscal year. Cable company Altice struck a deal with Sprint to resell service on its cell-phone network.
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(END) Dow Jones Newswires
November 06, 2017 16:28 ET (21:28 GMT)