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

Dow Futures Plunge, Global Markets Rocked as Trump Takes Trade War to Next Level

Dow Futures Plunge, Global Markets Rocked as Trump Takes Trade War to Next Level

Trump Issues New Trade Threats, Apple, ZTE, GameStop - 5 Things You Must Know

Trump Issues New Trade Threats, Apple, ZTE, GameStop - 5 Things You Must Know

China-Focused Stocks Hit Hard as Beijing Responds to Trump Tariff Threats

China-Focused Stocks Hit Hard as Beijing Responds to Trump Tariff Threats

Asia Markets Fall on Latest Tariff Threats From Trump

Asia Markets Fall on Latest Tariff Threats From Trump

Google Invests in JD.com; Comcast-Disney Battle Nears Head -- ICYMI

Google Invests in JD.com; Comcast-Disney Battle Nears Head -- ICYMI