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Sprint and T-Mobile agree to combine in all-stock deal

NEW YORK (AP) _ T-Mobile and Sprint are trying again to combine in a deal that would reshape the U.S. wireless landscape, bringing it down to three major cellphone companies.

The deal announced Sunday would help the companies slash costs and could make them a stronger competitor to the larger AT&T and Verizon. But consumers might see higher prices because the combined company wouldn’t have to offer as many promotions to lure customers.

The proposed all-stock deal values Sprint at about $59 billion and the combined company at $146 billion.

Sprint dropped its bid for T-Mobile more than three years ago after running into concerns about wireless competition in the Obama administration. The two were poised to combine in October, but that deal was called off, too.