Sprint and T-Mobile have agreed on the broad terms of a merger worth around $50 billion and are working toward a final agreement, people familiar with the matter told The Wall Steet Journal's Market Watch.
Under the framework, Sprint would acquire T-Mobile for around $40 a share in a deal that could happen early this summer, sources told the Journal.
The proposed deal would comprise 50 percent stock and 50 percent cash for T-Mobile, leaving Deutsche Telekom with about 15 percent of the combined company, Reuters reported, citing Bloomberg.
The story will be updated as additional information is available.
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