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Communications Services Down On Merger Doubts -- Communications Services Roundup

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12/02/2019 | 05:13pm EST

Communications services companies fell amid fears about the outlook for deals in the sector. Shares of Sprint fell sharply and plumbed a six-month low, reflecting growing doubts that the company's merger agreement with T-Mobile US will survive a challenge from states in federal court.

Walt Disney shares were stronger than the broad market after the entertainment conglomerate's "Frozen 2" movie was by far the biggest cinema draw of the Thanksgiving holiday weekend.

Acosta, a marketing firm owned by investment firm Carlyle Group whose business advising consumer brands was hurt by changing grocery trends, filed for bankruptcy Sunday with a deal that will see lenders and bondholders swap $3 billion in debt for control of the company.

Write to Rob Curran at rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
CARLYLE GROUP L.P. 0.89% 29.43 Delayed Quote.86.86%
T-MOBILE US -1.12% 75.02 Delayed Quote.19.27%
WALT DISNEY COMPANY (THE) -0.08% 146.1 Delayed Quote.33.24%
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