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Sprint reaches for face-saving deal with cable TV company Altice

SoftBank's US carrier announces new partnership after T-Mobile talks hit dead end

Sprint is the No. 4 wireless player in the U.S.; it was ranked third when SoftBank acquired it.   © Reuters

PALO ALTO, U.S./TOKYO -- Sprint on Sunday announced a multiyear strategic partnership with cable TV operator Altice USA, as the fourth-ranked U.S. wireless carrier strives to reshape its struggling business. Japan's SoftBank Group, Sprint's parent, also plans to raise its stake in a show of commitment.

The moves amount to Plan B for Sprint, after negotiations on a merger with rival T-Mobile fizzled.

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