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T-Mobile reportedly presented a revised merger offer to Sprint in an effort to keep the long-sought deal between the two major U.S. carriers afloat.

The Wall Street Journal reported Thursday that T-Mobile's board determined to reach out to Sprint with another bid just days after SoftBank Group, Sprint's controlling stakeholder, indicated that it would seek to terminate the talks.

T-Mobile and Sprint, the third- and fourth-largest U.S. carriers, respectively, reportedly reached an agreement on the parameters of a merger deal that would give T-Mobile parent Deutsche Telekom control of the company.

SoftBank was reportedly open to that arrangement if it maintained some influence in the combined company, but reports early this week said the Japanese telecom's board decided against ceding control to Deutsche Telekom and planned to approach its rival about calling off talks.

Terms of the newest offer were not available, and the WSJ reported that the companies could reach a deal in coming weeks or remain unable to agree on terms.

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