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Sprint drops bid to buy T-Mobile, changes CEO

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Sprint Corp has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.
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Sprint's shares plunged 19 percent to $5.90, while T-Mobile fell 10 percent to $30.38 on Wednesday.

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