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Sprint Drops as T-Mobile Talks End, New CEO Claure Named

Sprint Corp. dropped 19 percent after a deal to merge with T-Mobile US Inc. collapsed, leaving Sprint with the challenge of stemming customers losses and finishing the upgrade of its aging network on its own.

The talks ended because regulatory concerns outweighed the potential benefits of combining the third- and fourth-largest U.S. wireless carriers, a person familiar with the talks said. Sprint named Marcelo Claure, the 43-year-old founder of mobile-phone distributor Brightstar Corp., as its chief executive officer, according to a statement today.