Sprint reportedly agrees to acquire T-Mobile for $32 billion

The merger would form the largest US mobile carrier network

T Mobile Sprint AT T Verizon Mobile

Sprint has agreed to acquire T-Mobile for roughly $32 billion, according to numerous reports. The proposed acquisition, which is subject to regulatory approval, would merge the third and fourth largest US mobile carrier networks.

The acquisition, which has been rumored for months, was supposedly called off last month. The Federal Communications Commission allegedly quashed the deal, citing anti-trust concerns. However, talks appear not to have died, and proponents of the deal argue Sprint and T-Mobile combined would have more buying power to compete with Verizon and AT&T, as opposed to creating a monopoly.

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Sprint and T-Mobile each have more than 100 million subscribers. AT&T and Verizon have 116 million and 122 million subscribers, respectively.

Other notable acquisitions

Regulators are also in the process of determining whether Comcast's $45 billion acquisition of Time Warner Cable and AT&T's $49 billion acquisition of DirecTV will be approved.

The Wall Street Journal reports the T-Mobile acquisition could close as early as this summer. The Journal also reports that Sprint would still be on the hook for $1 billion in cash and assets if the deal falls through.

In 2011, AT&T's agreed to purchase T-Mobile for $39 billion. Regulators rejected the proposal. At the time, The Justice Department argued the US needed four carriers to be competitive.