May 3 (Reuters) – U.S. wireless carrier Sprint Corp’s outgoing chief executive, Marcelo Claure, told Reuters on Thursday that he expected negative stock reaction due to scepticism over the chances of the proposed merger with T-Mobile US Inc being approved.
Sprint and T-Mobile said on Sunday they had agreed to a $26 billion all-stock merger, bulking up in order to better invest in next-generation 5G wireless technology.
Claure is stepping down from the top job at Sprint to become the chief operating officer at Sprint’s controlling shareholder, SoftBank Group Corp, and chief executive officer of SoftBank Group International. He will also become the executive chairman of Sprint.
Reporting by Sam Nussey in Tokyo; Editing by Stephen Coates
Learn More about forex trading signals