Sprint stock dives 11% over report T-Mobile merger is off

Sprint parent Softbank reportedly plans to call off merger talks with Deutsche Telekom

A source familiar with the matter tells the publication that Deutsche Telekom insisted on having a controlling stake in the merged company.

It will diminish SoftBank's intended penetration of the important U.S. market, a strategy that includes a US$50bn investment.

Indeed, one can't help but wonder what a combined T-Mobile and Sprint would have looked like, what with T-Mobile CEO waging all-out war on the competition - Sprint included - and the wireless industry as a whole.

Together, T-Mobile and Sprint would rival Verizon Wireless and AT&T in size. Meanwhile, several members of SoftBank's board have raised concerns about giving up control of the USA wireless business, another person said.

Gaza: Palestinian militants killed as Israel hits tunnel
In June, UNWRA similarly uncovered a Hamas terror tunnel underneath two of the United Nations agency's schools in Gaza. Palestinian Islamic Jihad leaders called the explosion a "declaration of war" and said "the ceasefire is over".

Another report from earlier this month claimed that the two companies were in the final stages of an agreement, and an announcement would come by the end of October. Some analysts immediately dismissed the latest reports of a snag as a bargaining tactic, since SoftBank had been asked to accept an all-stock offer without much of a premium to Sprint's current share price. Rumors about the most recent talks circled for a long while before they were made official.

Investors have cheered on a combination of T-Mobile, the third-largest US wireless carrier, with No. 4 Sprint as a way to cut costs and forge a bigger competitor to take on AT&T and Verizon Communications. T-Mobile shares were down 3 percent.

As previously mentioned, the deal would have placed Deutsche Telekom as the majority owner of the combined carrier.

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