NEW YORK (TheStreet) -- AT&T's (T - Get Report) share price edged higher on Tuesday after reports that its merger with DirecTV (DTV - Get Report) is likely to get approved by regulators in the next few weeks. Sprint's (S - Get Report) stock price jumped higher after it announced an exclusive partnership with Best Buy (BBY - Get Report).
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.