Shares of Dish were gaining 1.3% to $62.89.
"They have the satellite and we have the network that we can collaborate on. We are looking at a technology alliance and we are doing some tests together," Sprint chairman and SoftBank CEO Masyoshi Son told Reuters.
Son recently said the U.S. wireless market is plagued by slow speeds and high prices, saying Sprint could help change the industry. The carrier wouldn't be able to make those changes alone in its current position, however.
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Sprint was recently looking into merging with T-Mobile (TMUS) to improve its position in the market. Those plans never resulted in a bid for the rival carrier due to the response of regulatory agencies such as the FCC which signaled it would not approve such a deal.