Mobile and Sprint could announce their merger in October

John Legere T Mobile CEO

Sprint's stock was up 3.6% in pre-market trading, and T-Mobile shares climbed 1.3%.

Japan's SoftBank, which controls Sprint, would own a 40 percent-50 percent stake in the combined giant, with T-Mobile majority owner Deutsche Telekom holding a majority stake, Reuters said.

Sources said the deal term sheet is being finalized and both companies will carry out their own due diligence.

Wireless giants T-Mobile US and Sprint are nearing an agreement on terms of a mega-deal that would merge the two and create a company that could better compete with AT&T and Verizon. T-Mobile CEO John Legere would lead the combined company, according to Reuters.

Pakistan claims Indian Army killed six of its citizens in ceasefire violations
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The election of President Donald Trump coupled with the conclusion of the FCC's incentive auction several months ago has given rise to a flurry of speculation regarding potential M&A activity in the mobile market. Talks between the two companies have been off-and-on for years.

Among details Faber cited was that Sprint's majority owner, SoftBank Group (9984JP), wants to have a hand in shaping the combined company.

A separate report at CNBC is a bit less certain that a deal will be made. T-Mobile and Sprint have engaged in talks over the last four months about merging, Reuters reported.

T-Mobile has a market capitalization of $52 billion, while Sprint has market capitalization of $32 billion.


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