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%.