Deutsche Telekom AG has agreed to a plan by Japanese mobile company Softbank Corp to purchase T-Mobile US Inc, the fourth-largest U.S. mobile carrier, Kyodo news agency reported, citing industry sources.Softbank Chairman Masayoshi Son proposed the takeover in a meeting with top executives of T-Mobile and Deutsche Telekom in mid-May and received a positive response, Kyodo reported.Softbank owns Sprint, the third-largest carrier, and Deutsche Telekom owns 67 percent of T-Mobile. The report did not give details on the deal structure or price.Softbank's Son has long been eager to buy T-Mobile to merge it with Sprint, the U.S. market's third-largest carrier, so the new company can better compete with leaders AT&T and Verizon.
Shares of TMUS traded higher by 1.89% or $0.65/share to $35.05. In the past year, the shares have traded as low as $20.30 and as high as $34.51. On average, 4420290 shares of TMUS exchange hands on a given day and today's volume is recorded at 2045119.
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