Business

Shares of Sprint and T-Mobile leap after report that Google will use mobile networks

Bloomberg News
Google is in the process of buying access to Sprint’s and T-Mobile’s voice and data networks so it can sell plans directly to consumers, according to industry sources. The deals would make Google a mobile virtual network operator.
Google is in the process of buying access to Sprint’s and T-Mobile’s voice and data networks so it can sell plans directly to consumers, according to industry sources. The deals would make Google a mobile virtual network operator. File photo by Jens Meyer The Associated Press

Shares of Sprint and T-Mobile US rose Wednesday after a report that Google is preparing to sell mobile phone service through the two carriers’ wireless networks.

Google is working on deals to buy access to Sprint’s and T-Mobile’s voice and data networks so it can sell plans directly to consumers, according to industry sources with knowledge of the plans. The deals would make Google a mobile virtual network operator, known as an MVNO.

Sprint rose as much as 7.9 percent, the biggest intraday jump since Sept. 12. It closed up 5.5 percent at $4.39.

T-Mobile rose as much as 2.8 percent to its highest intraday price since Sept. 19 and closed up 1.8 percent at $30.08.

Representatives for Overland Park-based Sprint and T-Mobile declined to comment. Google didn’t respond to requests for comment.

This story was originally published January 21, 2015 at 3:48 PM with the headline "Shares of Sprint and T-Mobile leap after report that Google will use mobile networks."

Get unlimited digital access
#ReadLocal

Try 1 month for $1

CLAIM OFFER