Financial Times FT.com

Sprint mobile plan could spark US price war

By Paul Taylor in New York

Published: January 15 2009 22:32 | Last updated: January 15 2009 22:32

Boost Mobile, Sprint Nextel’s prepaid mobile unit, launched a $50-a-month nationwide unlimited calling plan on Thursday, raising fears of a US pricing war and sending shares of rivals Leap Wireless and MetroPCS Communications tumbling.

Leap dropped $2.47, or 8.9 per cent, to $25.23 in Nasdaq Stock Market trading. MetroPCS fell $2.10, or 13 per cent, to $13.87 in New York Stock Exchange composite trading.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this