Report: DT Mulling Bid for Sprint Nextel

By: AP
By: AP

FRANKFURT, Germany (AP) _ Deutsche Telekom AG is reportedly considering a bid for Sprint Nextel.

The German telecommunications giant had no immediately comment on the report in Monday's Wall Street Journal. Were Deutsche Telekom to make such a deal, it would catapult its T-Mobile wireless unit to the top spot in the U.S. market.

Sprint Nextel spokeswoman Leigh Horner said the company won't comment on speculation and rumor. Shares of Overland Park-based Sprint Nextel were up 34 cents or 4.3 percent to $8.23 in morning trading.

The Journal report said deliberations were at "a preliminary stage and management may very well turn away.''

Sprint Nextel is the third-biggest provider of cell phone services in the U.S. and has a market capitalization of $22 billion.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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