T-Mobile and Sprint May Be Close to Merging

According to a Bloomberg report on Friday, a deal between T-Mobile and Sprint to merge could be on the way soon.

The report said that two telecom companies are getting closer to a merger deal and have set valuation terms.

A report from CNBC has said that the deal could be announced as soon as this weekend on Sunday.

It was last November that T-Mobile and Sprint had called off a potential deal, but this time it could be a reality.

Bloomberg reported that T-Mobile’s backer has valued Sprint at roughly $24 billion. The Bloomberg report also said that Deutshe Telekom, which is a majority shareholder of T-Mobile, will get 69% voting interest on a 42% stake in the company.

Shares of Sprint fell over 8% in after-hours trading on Friday on the news, while T-Mobile shares traded fairly flat.

Representatives from both companies declined to make a comment.

Disclaimer: We have no position in T-Mobile Us Inc. (NASDAQ: TMUS) nor Sprint Corp. (NYSE: S) and have not been compensated for this article.