PARIS: After getting nowhere with the cable giants, Sprint is in merger talks with T-Mobile in an attempt to collect $40 billion in estimated synergies.
The telecom carriers reportedly agree that T-Mobile’s controlling shareholder Deutsche Telekom would emerge the majority owner.
Sprint has also accepted that T-Mobile CEO John Legere – who has made a habit of taking digs at Sprint CEO Marcelo Claure on Twitter would lead a combined entity.
Sprint, the industry’s No. 4 company with a 12.8 percent share, saw its stock jump 6.8 percent, to close at $8.20. T-Mobile, No. 3 with a 16.9 percent share, climbed 5.9 percent, to $65.42.
Investors have seen this mating dance come to an abrupt end before.