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Stocks - Sprint, T-Mobile Higher on Merger Rumor

Published 09/19/2017, 02:04 PM
Stocks - Sprint, T-Mobile Higher on Merger Rumor
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Investing.com - Sprint Corp (NYSE:S) and T-Mobile US Inc (NASDAQ:TMUS)shares climbed on Tuesday, boosted by the rumor that the two companies are considering a merger.

According to CNBC, Japan's SoftBank Group Corp, which owns a majority stake in Sprint, and T-Mobile parent Deutsche Telekom (DE:DTEGn) have been in frequent conversations about a stock-for-stock merger.

CNBC added that even if the talks are successful it would likely be weeks before any deal is finalized.

Sprint shares were up almost 10%, T-Mobile shares added over 5%.

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