Shares of Sprint and T-Mobile US rose Wednesday after a report that Google is preparing to sell mobile phone service through the two carriers’ wireless networks.
Google is working on deals to buy access to Sprint’s and T-Mobile’s voice and data networks so it can sell plans directly to consumers, according to industry sources with knowledge of the plans. The deals would make Google a mobile virtual network operator, known as an MVNO.
Sprint rose as much as 7.9 percent, the biggest intraday jump since Sept. 12. It closed up 5.5 percent at $4.39.
T-Mobile rose as much as 2.8 percent to its highest intraday price since Sept. 19 and closed up 1.8 percent at $30.08.
Representatives for Overland Park-based Sprint and T-Mobile declined to comment. Google didn’t respond to requests for comment.