October 31, 2017 / 12:36 AM / a year ago

Softbank shares skid as Sprint, T-Mobile merger said to reach impasse

FILE PHOTO - The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

TOKYO (Reuters) - Softbank Group Corp shares fell on Tuesday after sources said it reached an impasse with Deutsche Telekom AG in their talks to merge Sprint Corp and T-Mobile US Inc.

Softbank shares were down 4.5 percent at 9,961 yen (66.74 pounds), after earlier falling as low as 9,830 yen, their lowest since Oct. 18.

People familiar with the matter told Reuters on Monday there was dispute about how many shares each partner would hold in the combined company.

Reporting by Tokyo markets team; Editing by Sam Holmes

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