Sprint And T-Mobile Surge Following Merger Rumors; Talks Expected To Begin In April

Softbank Group Corp SFTBF, the parent company of telecom provider Sprint Corp S has announced it is willing to cede control in order to make a deal with T-Mobile US Inc TMUS happen.

The deal has been long awaited, and now it appears things are moving in the right direction after Reuters reported Softbank is looking to approach T-Mobile regarding a possible merger. Sources close to the matter are expecting the two parties to begin negotiations in April.

Related Link: Sprint Stock Is Soaring Possible Merger In The Works

The companies are currently blocked from talking to each other until April 1 due to the Federal Communications Commissions' wireless spectrum auction, which concludes on March 30.

“Nobody is talking right now,” said T-Mobile CEO John Legere. “I’ve got news for you. I couldn’t be more excited about the period that’s going to come up when this auction is over.”

Shares of Sprint soared over 4 percent on Friday when the news broke. T-Mobile also spiked nearly 5 percent.

President Donald Trump’s election was a huge catalyst for Sprint, as the stock jumped 12 percent on Election Day on renewed hopes of a potential telecom merger being pushed through with a more business friendly administration. Under former President Barack Obama’s tenure, the deal was blocked citing anti-trust concerns.

Image Credit: By Chris Potter, stockmonkeys.com (Flickr) [CC BY 2.0], via Wikimedia Commons
Posted In: Barack ObamacommunicationsDonald TrumpJohn LegereReutersSoftbank GroupNewsPoliticsMoversTechMediaTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.