T-Mobile has approached Sprint with a new proposal, reports the Wall Street Journal, in an attempt to keep the potential merger of the two companies alive. Talks failed earlier this week when Masayoshi Son, CEO of Sprint parent SoftBank, appeared to walk away from the deal over a disagreement concerning which company would own the other. The terms of T-Mobile's new proposal are unknown, but Sprint is considering them according to the Journal's unnamed sources. T-Mobile CEO John Legere and Sprint CEO Marcelo Claure have been in direct contact since Wednesday. T-Mobile ($49 billion) has twice the market capitalization of Sprint ($26 billion). This should put T-Mobile in the driver's seat concerning the terms of the merger agreement and ownership. The Journal's sources say a new deal could be reached within weeks, though they were certain to note talks could always fall through.
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