US mobile carriers Sprint, T-Mobile to merge: report

Japan's SoftBank has reached a broad accord to merge its US subsidiary Sprint with T-Mobile to create a rival to America's top two wireless carriers, a newspaper said Saturday. SoftBank and German group Deutsche Telekom, which holds 64 percent of T-Mobile, are considering a stock swap for the deal, which could be announced as early as this month, the Nikkei daily said. The Japanese telecom giant is also planning to begin procedures for the approval of the US Federal Communications Commission and the US Department of Justice, the report said.

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