Communications services companies were flat as one carrier received a huge lift from an antitrust clearance.
Shares of Sprint surged by more than 70% after a U.S. federal judge unexpectedly cleared its acquisition by T-Mobile U.S. U.S. District Judge Victor Marrero concluded the deal, worth $26 billion when it was struck two years ago, wasn't likely to substantially lessen competition, and rejected the main arguments by a group of states seeking to block the deal as anticompetitive.
The deal development weighed on shares of Verizon, as the combined company will control a deep reserve of airwaves that the carriers are competing for as part of 5G network plans.
Vice Media Group is under pressure to repay commitments to private-equity firm TPG invested $450 million, valuing Vice at $5.7 billion, far higher than any Vice rivals.
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