NEW YORK (TheStreet) -- AT&T's (T) share price edged higher on Tuesday after reports that its merger with DirecTV (DTV) is likely to get approved by regulators in the next few weeks. Sprint's (S) stock price jumped higher after it announced an exclusive partnership with Best Buy (BBY).
AT&T's stock price inched up 0.03% to close at $34.36, despite the broader markets falling.
The share price of the telecom giant moved higher following a Washington Post report that federal regulators are expected to approve the $49 billion AT&T–DirecTV merger in the next few weeks with the resolution of a key competitive issue.
According to The Washington Post, AT&T sought to appease regulators concerned that the combined company in a shrinking market of players would make its service more expensive for consumers by preparing to accept all the net neutrality rules adopted by the Federal Communications Commission. Although AT&T initially opposed the new net neutrality rules, it would be willing to play by those rules, according to the news report.
The price of Sprint shares leaped 1.1% to close at $4.69.
The telecom carrier's stock price advanced on Tuesday after it announced an exclusive deal with Best Buy to offer a special phone upgrade and lease program.
Under the arrangement, Sprint subscribers who make nine on-time payments can turn their phones in and upgrade to a new smartphone lease via a Best Buy store. Additionally, Best Buy stores will offer prepaid Sprint data plans that roll over as much as 30 gigabytes of unused data.