Sprint to accelerate network investment, CEO says

NEW YORK (Reuters) - Sprint Corp will accelerate investment in its network as it plots a future as a standalone company, its chief executive officer said on Wednesday, days after the No. 4 U.S. wireless carrier said merger talks with rival T-Mobile US Inc had failed.

Sprint CEO Marcelo Claure said at an investor conference the company could spend more than its previous guidance of $5 billion to $6 billion per year on capital expenditures, and that cash could dip next year as it builds out its network.

Sprint shares rose 4.7 percent to $6.02 at midday.