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Thursday, September 17, 2009
Report: Sprint CEO Says Obama Admin. Makes Consolidation Tougher
FOXBusiness
Sprint Nextel Corp (S) Chief Executive Dan Hesse declined comment on reports that his company would be taken over by Deutsche Telekom AG (DT) on Thursday, but he did admit that takeovers would be more difficult in an Obama presidency, according to reports.
At an analyst conference, Hesse said he didn't know if a merger was "necessary," and said the industry was "growing," according the Wall Street Journal.
The paper said Hesse plans to increase investment in its pre-paid phone business, through Boost Mobile or possibly its pending acquisition of Virgin Mobile USA (VM).
Shares of Sprint Nextel closed at $3.90 on Thursday, down 8 cents or 2.01%.
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