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.)