Shares of telecommunications companies rose as merger intrigue gripped the sector once more. Sprint shares rose after the cell-phone carrier, which is majority owned by Japanese conglomerate Softbank, posted a net profit for the first time in three years thanks to cost cuts and said it was close to deciding on its merger plans. Sprint may make an offer to buy cable giant Charter Communications or rival T-Mobile US, though the company seems cognizant of regulatory opposition on the T-Mobile deal after a prior attempt had to be abandoned.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
August 01, 2017 16:26 ET (20:26 GMT)