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TMobile Advancing Sell to Sprint

TMobile is moving closer to striking a buyout deal with Sprint.

NEW YORK/FRANKFURT, May 29 Germany’s Deutsche Telekom AG is willing to keep a minority stake in a deal to sell T-Mobile US Inc to Japan’s Softbank Corp , but other details such as price and financing remain to be worked out, according to sources familiar with the situation.

Softbank owns a majority of Sprint Corp, the third largest U.S. wireless carrier. Deutsche Telekom owns 67 percent of T-Mobile, which has a market value of $27.6 billion and is the fourth-largest U.S. wireless carrier.

Earlier on Thursday, Kyodo news agency reported that Deutsche Telekom had agreed to a Softbank plan to buy T-Mobile.