November 6, 2017 / 8:17 AM / a year ago

Deutsche Telekom shares down after U.S. deal collapses

FRANKFURT, Nov 6 (Reuters) - Shares in Deutsche Telekom opened 2.9 percent lower on Monday after the attempt by its T-Mobile US unit to merge with Sprint Corp to create a strong No.3 player on the U.S. market collapsed at the weekend.

Analysts said T-Mobile appeared not to have been willing to pay a premium for Sprint or to concede control over the merged entity.

Deutsche Telekom CEO Tim Hoettges said T-Mobile, in which the German company owns a 64 percent stake, would press ahead with its growth strategy. (Reporting by Douglas Busvine; Editing by Tom Sims)

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