Telecommunications stocks were the market's best performers on Tuesday, Sept. 19, as reports of deal talks between T-Mobile US Inc. (TMUS) - Get T-Mobile US, Inc. Report and Sprint Corp. (S) - Get SENTINELONE, INC. Report triggered a rally.
The reportedly serious talks would be the latest in a years-long courtship. According to CNBC sources, T-Mobile parent company Deutsche Telecom (DTEGY) would emerge as the majority owner if the United States' third- and fourth-largest mobile carriers did complete a stock-for-stock merger.
Sprint shares surged more than 6%, while T-Mobile added nearly 5%.
Other telecoms were on the rise, too, including AT&T Inc. (T) - Get AT&T Inc. Report , Verizon Communications Inc. (VZ) - Get Verizon Communications Inc. Report , Vodafone Group PLC (VOD) - Get Vodafone Group Plc Sponsored ADR Report , and Telefonica S.A. (TEF) - Get Telefonica SA Sponsored ADR Report . The iShares Dow Jones U.S. Telecom ETF (IYZ) - Get iShares U.S. Telecommunications ETF Report added more than 1%.
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