Sprint, T-Mobile shares fall on report Justice Department won't approve merger as structured

Shares of Sprint and T-Mobile US fell in after-hours trade after The Wall Street Journal reported that Justice Department staffers have told the companies their planned merger is unlikely to be approved as currently structured. The report citing people familiar with the matter as saying the staff members questioned the companies' arguments that the combination would produce important efficiencies for the merged firm. Sprint shares dropped 9% in after-hours action, and T-Mobile shares lost 4%.

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