REPORT: RadioShack is in talks to sell half its stores to Sprint
According to a report from Bloomberg, RadioShack and Sprint are reportedly in talks on a deal that would see RadioShack sell half its stores to Sprint and close down the other half of its retail outlets.
Radioshack is also reportedly discussing liquidation as part of this deal.
In afternoon trade on Monday following the report, shares of RadioShack were down about 18% to $0.22 per share, little changed from where they were ahead of this report.
Sprint shares were little changed following the report.
The half of RadioShack's stores sold to Sprint would operate under Sprint's name, though a deal has been discussed for co-branding the stores, according to Bloomberg, which cites two people familiar with the matter.
More to come ...
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