The Sprint take over of T-Mobile is closer to becoming a reality according to Bloomberg. The two parties are close to agreements on termination fee, price and the capital structure of the deal. The final price is reportedly $40 per share.

The deal is reportedly set to be announced in July or August. The Sprint takeover of T-Mobile was first reported by Bloomberg back in May. The Sprint acquisition is backed the carrier’s parent company Softbank.

Even if the deal is announced, there’s still the issue of convincing the FCC to allow it to happen. The FCC killed an attempt by AT&T and T-Mobile to merge in 2011.

➤ Bloomberg