Sprint Corp. Chief Executive Officer Marcelo Claure said Tuesday that a decision on possible mergers is close at hand, potentially setting a new course for a company that has slashed costs as it loses subscribers.
The company has had positive merger discussions with T-Mobile U.S. Inc. and Charter Communications Inc., Claure said in a conference call with reporters. "I believe the interest is high from both parties," he said.
Claure's comments helped lift Sprint shares as much as 12 percent. The stock had already risen after Sprint reported that net income had beaten even the best analyst estimate, providing evidence that lower network spending and other expense reductions are helping the company stabilize itself ahead of potential deals.