Hidden message from investors: T-Mobile will not close on its current merger deal with Sprint

Earlier this year, we introduced you to a method that determines how optimistic Wall Street is about the T-Mobile-Sprint merger closing. This figure can be calculated by taking the price of T-Mobile's shares (ticker symbol: TMUS) and multiplying that number by 0.10256. That gives you the value of T-Mobile stock that each Sprint shareholder will receive in the merger (unless the terms of the deal change, more on that later). Subtract Sprint's stock price (ticker symbol: S) from that figure and that is the so-called "spread." The smaller the spread, the more optimistic traders are that the deal ...