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Sprint’s (S) stock plunged amid reports it has dropped plans to acquire T-Mobile US (TMUS), which is 67% owned by Deutsche Telekom (DTEGY). Shares in Sprint were down 13% before the market open in the stock market today. T-Mobile’s stock fell nearly 9%. Japan’s SoftBank, which owns 80% of Sprint, has been pushing for a T-Mobile merger. SoftBank’s stock fell in Japan on Wednesday, though the company holds a large stake in Alibaba Group, which plans Scalper1 News
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