logo-loader

Sprint and T-Mobile US shares up on reports close to agreeing tentative merger terms

Last updated: 13:48 22 Sep 2017 BST, First published: 08:48 22 Sep 2017 BST

Deal talks
Reuters said a deal is expected by the end of October, according to the sources, though talks may still fall through

Shares in Sprint Corp. (NYSE:S) and T-Mobile US Inc. (NASDAQ:TMUS) were both higher in pre-market trading after Reuters reported the cellphone carriers are close to agreeing tentative terms on a merger.

Citing people familiar with the matter, Reuters said the terms would see Sprint's majority shareholder, Japan's Softbank Group Corp. own 40% to 50% of the combined entity, with T-Mobile parent Deutsche Telekom AG having a majority stake.

Reuters said a deal is expected by the end of October, according to the sources, though talks may still fall through.

A successful merger would create a business with more than 130 million subscribers, just behind Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T)

In pre-market New York trading today, Sprint shares were up 3.6% at US$8.32, while T-Mobile shares added  1.4% at US$64.25..

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 32 minutes ago