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Why Sprint (S) and T-Mobile (TMUS) Rose Today

NEW YORK (TheStreet) --Sprint (S) rose 3% on Thursday to $9.95 based on continued reports of a possible merger with competitor T-Mobile (TMUS - Get Report). Shares of T-Mobile rose 2.3% to $32.95 on the reports.

Japanese carrier Softbank, which currently owns Sprint, is reportedly looking to buy T-Mobile from Deutsche Telekom sometime in the first half of 2014. Softbank would then merge Sprint and T-Mobile, cutting the number of U.S. mobile carriers to three from four. The combined carrier would compete with Verizon (VZ) and AT&T (T), the two largest carriers in the U.S.

Softbank may face some competition from Dish (DISH), which is also reportedly exploring an acquisition of T-Mobile.

S Chart S data by YCharts

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SYM TRADE IT LAST %CHG
S $4.48 0.00%
TMUS $38.97 0.00%
AAPL $126.44 0.00%
FB $87.28 0.00%
GOOG $523.40 0.00%

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DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

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