Towerco Stocks Take an Uptick as Sprint/T-MO Merger Fades

Stocks in cell-tower companies — which have been in a general decline on the prospect of dealing with one less major wireless-carrier customer — are rising while the carriers involved took a significant drop.  Percentage of growth for the day (10/30) shown below:

• American Tower (NYSE:AMT) is up 2.8%;
• SBA Communications (NASDAQ:SBAC) up 2.4%;
• Crown Castle (NYSE:CCI) up 2.8%.
• T-Mobile (TMUS) down 5.3%
• Sprint (S) down 9.3%

SoftBank Group Corp., will reportedly call off negotiations to merge its subsidiary, Sprint Corp., with T-Mobile U.S., according to Nikkei Asian Review, a Japanese financial news agency. It said that SoftBank may approach T-Mobile’s parent company, Deutsche Telekom as early as tomorrow, to end the deal.  
Inside Towers reported on October 13, that the merger was unlikely, citing a Reuters article that said the Department of Justice would “likely recommend putting a stop to any further plans” due to anti-trust regulations blocking its path. Continue Reading