T-Mobile Sprint merger looks official with new date

Rumors have been swirling for months about a T-Mobile/Sprint hookup, but things are getting very realistic, very fast. A new report from CNBC quotes sources who say that both sides are now entering due diligence, with a formal deal announcement expected for late October.

The deal will be all stock, and the exchange ratio will be "at market," according to CNBC's sources. Deutsche Telekom, T-Mobile's owner, would become the majority shareholder after the merger.

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