Economy

Mobile, Sprint close to a deal

Mobile, Sprint close to a deal

A merger would join the third and fourth largest wireless carriers in the United States, leaving the country with three major nationwide carriers including Verizon Wireless and AT&T.

Reportedly, T-Mobile and Sprint are "close to agreeing tentative terms" on the merger. Analysts have said that revenues from a combined company could top $70 billion, Reuters reports.

If a deal were to be confirmed, it could create business with over 130 million subscribers.

The sources asked not to be identified because negotiations are confidential.

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Once the terms are finalised and reviewed by both companies, a deal could follow by the end of October - although these talks may still fall through.

We've been hearing rumors of a T-Mobile-Sprint merger for years now, with an attempted merger in 2014 getting abandoned by SoftBank CEO Masayoshi Son over concerns that regulators would oppose it.

Following reports of a merger between the two companies, shares for Sprint have increased by 5% to $8.35 in premarket training, whilst T-Mobile's have increased by a smaller amount of 1% to $64.20. Sprint and Deutsche Telekom declined to comment.

Smartphones with the logos of T-Mobile and Sprint are seen in front of a Soft Bank logo in this illustration taken September 19, 2017.

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That deal would have put SoftBank in control of the merged company, with Deutsche Telekom becoming a minority shareholder. T-Mobile was up as well.

A banker told THR that the talks have been on and off in recent months.

T-Mobile and Sprint have been in a "will they, won't they" relationship about a possible merger for years now, and, it seems that things might finally be coming to a head soon.

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