2017.07.3019:30:00UTC+00Sprint Eyes Other Options to a T-Mobile Merger, Sources Say

Sprint Corp has proposed a merger with Charter Communications Inc., as the U.S. wireless carrier looks for an alternative M&A with T-Mobile U.S. Inc. that so far has not reached a conclusive result, sources said.

The SoftBank-owned company has proposed a complicated deal that would create a new business entity and will be controlled by the Japanese firm, according to the people privy to the matter. Talks regarding the deal was first reported by The Wall Street Journal.

There is no assurance that Charter would entertain the idea of a merger with Sprint, sources said. If Charter, which has a market cap that stands at $94.6 billion, agrees to a merger with Sprint, it would be subject to the approval of Comcast Corp.

On Friday, Bloomberg said that Charter has brushed off Sprint's tie-up proposal.

Shares of Sprint closed up 5.8 percent in extended trading during the last session while Charter shares rose marginally.