Sprint Corp is closing in on an agreement to pay $40 a share to purchase T-Mobile US Inc, Bloomberg reported on Wednesday, drawing the two companies toward a deal to combine the country's third- and fourth-largest telecoms carriers.The price reportedly under discussion represents about a 17 percent premium to T-Mobile's Wednesday close and values the No. 4 carrier at more than $32 billion.Under a proposed agreement, Sprint would offer about 50 percent stock and 50 percent cash for T-Mobile, leaving parent Deutsche Telekom AG with about a 15 percent stake in the combined company, Bloomberg cited people with knowledge of the matter as saying.A deal could be announced as soon as July, Bloomberg said.
Shares of TMUS traded higher by 0.23% or $0.08/share to $34.28. In the past year, the shares have traded as low as $20.31 and as high as $35.50. On average, 4465700 shares of TMUS exchange hands on a given day and today's volume is recorded at 2716953.
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