Why T-Mobile (TMUS) Stock Is Up Today

NEW YORK (TheStreet) -- T-Mobile  (TMUS) shares rose Thursday after its parent company, Deutsche Telecom (DTEGY) , said it would be willing to negotiate a sale of the fourth-largest U.S. wireless carrier if a deal valued the company at a minimum of $35 a share, according to Bloomberg.

Senior managers at Deutsche Telekom discussed the U.S. wireless carrier's valuation during a meeting in Berlin on Thursday, according to the report. T-Mobile recently rejected French carrier Iliad's bid of $33 a share, and Bloomberg's source said the company has yet to receive an increased offer from any prospective buyer.

Sprint  (S) , the third-largest U.S. carrier, also withdrew from contention to acquire T-Mobile earlier this month.

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T-Mobile was up 1.63% to $29.92 at 2:23 p.m. More than 7.5 million shares had changed hands, compared to the average volume of 4,511,420.

TMUS Chart TMUS data by YCharts

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