Sprint rose 8.3% to $8.49, and T-Mobile gained 5.3% to $31.74 Wednesday.
According to Dealreporter Sprint will gain financing from JPMorgan, Citigroup, and Bank of America-Merrill Lynch. Depending on deal conditions the financing could be lowered to $40 billion.
Sprint reportedly wants to have a deal in place before its earnings report next week.Sprint chairman Masyoshi Son met with FCC chairman Tom Wheeler Tuesday, and the two likely discussed the potential merger with T-Mobile. Earlier Wednesday the FCC signaled such a merger would face major obstacles, and may not be approved. The U.S. Department of Justice previously suggested it would not approve such a merger. Sprint, JPMorgan, Citigroup, and Bank of America-Merrill Lynch have not yet responded to TheStreet's requests for comment. Must Read: Sprint (S) Chairman to Likely Discuss T-Mobile (TMUS) Merger With FCC: Report S data by YCharts
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts