Sprint, T-Mobile trying to salvage merger talks: Report
Sprint and T-Mobile are working to salvage their proposed merger, The Wall Street Journal reported Thursday, citing sources.
Sprint shares jumped 5.3 percent in after-hours trading, while shares of T-Mobile rose 3.3 percent.
Last week, reports surfaced that SoftBank was planning to break off negotiations over disagreements on which side would control the combined company. SoftBank, a Japanese conglomerate, was reportedly hesitant to give up control of Sprint.
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But CNBC's David Faber reported that SoftBank was not preparing to give up just yet. The proposal from earlier this year was for a stock-for-stock deal that would give Deutsche Telekom, T-Mobile's parent, control.
The telecommunications companies could reach a deal within weeks, the WSJ said.