After several months of rumors, Sprint is reportedly finally nearing a deal to acquire T-Mobile USA. The two have reportedly been in negotiations for awhile now, but they have apparently finally reached an agreeable number. The deal, as it stands now, would have Sprint acquiring the Uncarrier for $31.3 billion. T-Mobile currently has about $15 billion in debt and $5 billion in cash. Sprint is valuing the company at roughly $40 a share.

Of course, just because the two companies reach an agreement does not mean that the deal is anywhere finalized. The acquisition would have to be approved by the FTC and FCC, which is not an easy task. This deal would reduce the number of major carriers in the United States from 4 to 3, which may not be beneficial to the consumer when it all plays out.

T-Mobile infamously attempted to merge with AT&T nearly four years ago, but that deal did not make it past federal approval because of concerns over competition. Of course, with Sprint and T-Mobile being the two smallest carriers, they could make an argument for the merger helping their business, prices, etc.

T-Mobile customers, who are notoriously loyal and vocal, aren’t going to be happy with this deal either, should it go through.

(via: Bloomberg)