Sprint, T-Mobile said to be discussing terms to bring merger closer

New York

SPRINT Corp and T-Mobile US Inc, in preliminary deal talks since at least August, agreed that Deutsche Telekom AG would have control in a combination of the two companies, said a person with direct knowledge of the matter.

The mobile operators are discussing a stock-for-stock merger, though are still weeks away from an agreement, according to the person, who asked not to be identified because the talks are private. Shares of Sprint and T-Mobile rose. Both companies declined to comment.