NEW YORK (TheStreet) --Sprint (S) rose 3% on Thursday to $9.95 based on continued reports of a possible merger with competitor T-Mobile (TMUS). Shares of T-Mobile rose 2.3% to $32.95 on the reports.
Japanese carrier Softbank, which currently owns Sprint, is reportedly looking to buy T-Mobile from Deutsche Telekom sometime in the first half of 2014. Softbank would then merge Sprint and T-Mobile, cutting the number of U.S. mobile carriers to three from four. The combined carrier would compete with Verizon (VZ) and AT&T (T), the two largest carriers in the U.S.
Softbank may face some competition from Dish (DISH), which is also reportedly exploring an acquisition of T-Mobile.
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