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Sprint and T-Mobile near merger deal: reports

AFP
A T-Mobile store on April 12, 2013 in New York City

US telecom service firms Sprint and T-Mobile were nearing a deal valued about $32 billion and likely to be scrutinized by anti-trust regulators, US media reported Wednesday.

The Wall Street Journal and others indicated that under the terms of the deal, which could still fall apart, Sprint would acquire rival T-Mobile for $40 a share.

The merger would unite the third and fourth largest US telecom service providers to compete with market leaders Verizon and AT&T.

Sprint and T-Mobile were also reported to be considering teaming up to take part in an auction next year of airwaves being freed from use by television broadcasters.