Enter multiple symbols separated by commas

Sprint preparing to bid for T-Mobile: Report

Sprint is mulling a possible bid for rival wireless provider T-Mobile, a move that could leave the U.S. wireless market dominated by three mega-companies, The Wall Street Journal reported Friday.

Sprint could launch a bid as early as the first half of next year, the report said citing people familiar with the matter.

The company is reportedly studying regulatory concerns before moving forward. Placing a bid despite regulators' concerns would be risky, and a bad reaction could put an end to the effort.

A deal between the third- and fourth-largest U.S. carriers could be worth more than $20 billion.

Sprint shares rose 10 percent in after-hours trading, while T-Mobile shares dipped 1.2 percent.

Sprint declined to comment to CNBC.

Click here to read the full report from The Wall Street Journal.

—CNBC's Ryan Ruggiero contributed to this article.

Contact M&A


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.