Market fundamentals for telcos are looking better this year than in the past two years, says Sanford C. Bernstein senior research analyst, Chris Lane. » Read More
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Shares in Sprint Nextel surged as much as 16% in afterhours trade after a media report said SK Telecom was preparing to bid for the No. 3 U.S. wireless company. This is despite a denial by the South Korean firm of any such action.
China Mobile, the world's largest wireless carrier, beat forecasts with a near 20% rise in quarterly net profit on the back of strong subscriber growth, but analysts warn that margins may shrink as competition intensifies.