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Report: Sprint, T-Mobile merger could happen by end of October

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Report: Sprint, T-Mobile merger could happen by end of October

Sprint Corp. and T-Mobile US Inc. are working on the final details of a merger that may be announced by the end of October, Bloomberg News reported Oct. 6, citing people with knowledge of the matter.

The companies reportedly are working on the specifics of the agreement including deciding an exchange ratio for the all-stock deal and ironing out the location of the combined entity's headquarters and executive appointments. The parties do not plan on including a breakup fee in the final agreement.

Earlier reports have indicated that T-Mobile's majority stakeholder Deutsche Telekom AG will be a majority stakeholder in the combined company, while Sprint's parent SoftBank Group Corp. will own a 40% to 50% stake.