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Altice agreement 'not contingent' on T-Mobile talks failing - Sprint CFO

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Altice agreement 'not contingent' on T-Mobile talks failing - Sprint CFO

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NEW YORK (Reuters) – Sprint Corp’s wireless partnership with Altice USA was not contingent on merger talks with T-Mobile US Inc failing, the chief financial officer of the No. 4 U.S. wireless carrier said on Monday. “It will not deliver the tens of billions in synergies we had foreseen in a merger with T-Mobile,” said Chief Financial Officer Tarek A. Robbiati on a call with Wall Street analysts and reporters. “Nontheless, it does deliver real value for Sprint and significant value for Sprint.” Sprint’s shares were down 12.6 percent to $5.82 (£4.4) in early trading on Monday. Altice said it will sell mobile service on Sprint’s network under a new multi-year agreement announced on Sunday, becoming the latest cable company to enter the wireless market. The companies announced the agreement a day after Sprint and T-Mobile ended merger talks.

(Reporting by Anjali Athavaley; Editing by Chizu Nomiyama)
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