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.

Image placeholder title

TMUS

data by

YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.