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T-Mobile and Sprint Haven’t Given Up on Their Potential Merger—Yet

November 3, 2017, 9:38 AM UTC

T-Mobile/Sprint might still be in our future.

The two carriers are reportedly working to revive their potential merger. According to The Wall Street Journal, T-Mobile (TMUS) has made a revised offer, which Sprint (S) is considering.

Sources reportedly told The Journal that the two sides “could reach a deal within weeks.” Nevertheless, they also said that the two companies could “still fail to agree on deal terms.”

Earlier this week, it appeared as though Sprint was walking away from negotiations. The initial deal stipulated that T-Mobile parent company Deutsche Telekom would have had a majority stake in the combined carrier, yet Sprint parent company SoftBank was unwilling to give up control of Sprint, leading to an impasse in negotiations.

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According to The Journal, SoftBank CEO Masayoshi Son had decided that Sprint was too important to cede control to Deutsche Telekom (DTEGF). He reportedly cited a belief that “millions of devices, including robots, will one day be connected to wireless networks.”

Following news that negotiations would resume, T-Mobile shares rose 3.3% and Sprint shares 5.3%. If the two sides manage to come to a deal, the combined carrier would have more than 130 million customers, positioning it as the third largest U.S. carrier after Verizon (VZ) and AT&T (T).