NEW YORK (TheStreet) -- Shares of T-Mobile U.S. Inc. (TMUS - Get Report) are higher by 1.74% to $35 in pre-market trading Thursday following a Reuters report saying Deutsche Telekom AG (DTEGY) has agreed to a plan from Softbank Corp. (SFTBY) to buy T-Mobile.
The buyout was suggested in mid-May by Softbank Chairman Masayoshi Son while he was meeting with top T-Mobile and Deutsche Telekom executives, Reuters reported.
As a result of the sale Deutsche Telekom will be giving up its controlling stake in T-Mobile U.S.
Must Read: Warren Buffett's 25 Favorite Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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