According to Bloomberg, CNBC quoted unnamed people familiar with the matter as reporting that T-Mobile and Sprint are discussing the merger. The two companies are discussing a share exchange merger. It could take weeks to finalize an agreement.

T-Mobile and Sprint are currently the third and fourth largest operators in the US, respectively, and the number of users they own is far behind that of the top two US operators, Verizon and AT&T. Once merged, its user base will be one higher than the top two. Other industry sources said the merger of T-Mobile and Sprint will be of strategic importance as the industry shifts to fifth-generation wireless technology (5G).

T-Mobile's stock price once rose more than 4%

Sprint Corp's stock price once surged by more than 8%

According to a report by Reuters in February of this year, Japan's SoftBank Group plans to relinquish control of the US telecom operator Sprint to facilitate the merger of the latter with T-Mobile, another US telecom operator. SoftBank currently owns around 83% of Sprint's shares, while T-Mobile is affiliated with Deutsche Telekom. This will be the second time the two companies have attempted a merger, after the two companies' merger plans were aborted in 2014 when they failed to get approval from US regulators. Now, the merger between T-Mobile and Sprint will still face antitrust law challenges.