T-Mobile and Sprint work to save merger talks: WSJ

FILE PHOTO:    Smartphones with the logos of T-Mobile and Sprint are seen in this illustration
FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

November 3, 2017

FRANKFURT (Reuters) – T-Mobile US <TMUS.O> and Sprint <S.N> are working to salvage their $74 billion merger and could reach a deal within weeks, the Wall Street Journal reported, citing people familiar with the matter.

Parent companies Deutsche Telekom <DTEGn.DE> and SoftBank <9984.T> reached an impasse last week in their talks as SoftBank directors expressed doubts over giving up control of Sprint, sources told Reuters.

However, the Wall Street Journal said that T-Mobile US has made a revised offer, which Sprint is considering. Terms of the offer were not disclosed.

A Deutsche Telekom representative declined to comment.

Under the previous deal structure, Deutsche Telekom would have controlled the new company, which would have merged the third and fourth-biggest U.S. mobile carriers.

Deutsche Telekom shares were indicated 0.9 percent higher ahead of the Frankfurt market open, compared with a 0.3 percent expected rise for the German blue-chip DAX <.GDAXI> index.

(Reporting by Georgina Prodhan and Tom Sims; Editing by David Goodman)