Shares of Sprint Corp. fell nearly 14% during intraday trade on Monday and T-Mobile US Inc. shares were down more than 5% after a report that Sprint owner Softbank Group plans to call off merger talks between the two U.S. mobile operators. A report from Nikkei Asian Review said the talks fell through as the two sides failed to agree on ownership of the would be combined entity. Softbank is expected to approach T-Mobile owner Deutsche Telekom as early as Tuesday to end negotiations, according to Nikkei. Shares of Sprint have declined nearly 25% in the year to date, but T-Mobile shares have risen more than 4%, while the S&P 500 index is up 15% and the Dow Jones Industrial Average is up close to 19%.
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