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News: Sprint Agrees to Buy T-Mobile for $32 Billion

Sprint and T-Mobile have agreed to a $31.6 billion deal that, if it gets through federal regulators—which is far from a sure bet—would create a formidable carrier to really compete against AT&T and Verizon. The deal comes packaged with a $1 billion "breakup" fee that Sprint would have to pay T-Mobile in the event the deal does not go through. After the deal, Deutsche Telekom, which owns about 67% of T-Mobile, would maintain a 20% ownership stake.