NEW YORK (TheStreet) -- T-Mobile US (TMUS) fell Thursday, as reports surfaced that Dish Networks (DISH) is lining up bankers to secure upwards of $15 billion in debt to purchase the carrier. A wide collection of telecom companies rose on the eve of Net Neutrality going into effect.
T-Mobile dropped 1.4% to close at $38.21, on day when the broader markets advanced. Dish, meanwhile, rose 0.3% to finish the day at $72.79.
Dish, according to a report in Reuters, is seeking between $10 billion to $15 billion in debt to cover the cash portion of its buyout of T-Mobile. According to Reuters, Dish is in the process where it is talking with banks to secure the financing.
T-Mobile, based on Thursday's close, has a market cap of $30.9 billion. Dish is roughly $33.7 billion.
Sprint (S), Comcast (CMCSA), Charter Communications (CHTR), AT&T (T) and Verizon Communications (VZ) were among the telecom companies that rose on the eve of Net Neutrality going into effect.
The new rules basically call for Internet Service Providers, or ISPs, to be regulated like a public utility under the Telecommunications Act of 1934, Title II, according to a report in Forbes.
Another aspect of the Net Neutrality laws calls for ISPs to operate in a non-discriminatory fashion, so content providers like Netflix (NFLX) or Facebook (FB) can freely distribute content without fear it will be blocked by the ISP, or have its legal content slowed down through a process called throttling. Additionally, ISPs are prohibited from charging content providers a fee to prioritize the delivery of their content.