Why Sprint (S) and T-Mobile (TMUS) Rose Today

NEW YORK (TheStreet) --Sprint (S) rose 3% on Thursday to $9.95 based on continued reports of a possible merger with competitor T-Mobile (TMUS). Shares of T-Mobile rose 2.3% to $32.95 on the reports.

Japanese carrier Softbank, which currently owns Sprint, is reportedly looking to buy T-Mobile from Deutsche Telekom sometime in the first half of 2014. Softbank would then merge Sprint and T-Mobile, cutting the number of U.S. mobile carriers to three from four. The combined carrier would compete with Verizon (VZ) and AT&T (T), the two largest carriers in the U.S.

Softbank may face some competition from Dish (DISH), which is also reportedly exploring an acquisition of T-Mobile.

S Chart S data by YCharts

More from Markets

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

GE Confirms $11.1 Billion Transportation Merger With Wabtec

GE Confirms $11.1 Billion Transportation Merger With Wabtec