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Sprint, T-Mobile Move Closer to a $32 Billion Deal

2014-06-05 09:56 by
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Sprint Corp. is nearing an agreement on the price, capital structure and termination fee for an acquisition of T- Mobile US Inc. that could value the wireless carrier at almost $40 a share, people familiar with the matter said.

Under the terms of the deal, T-Mobile majority owner Deutsche Telekom will trade its 67% stake for 15% of the merged business. The deal will also include a $1 billion breakup fee that Sprint will pay T-Mobile should the deal not go through. Overall, Sprint's purchase of T-Mobile would be a $50 billion deal, including debt. The companies are still working toward a formal contract.

If completed, the merger would combine the country's third- and fourth-largest wireless operators, creating a bigger competitor to market leaders Verizon Communications Inc. and AT&T Inc. while leaving consumers with fewer choices for service.

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