SoftBank shares up; sources say company willing to cede control of Sprint

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  • Copyright Reuters 2017

    (Copyright Reuters 2017)

  • File Photo: SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo, Japan, February 8, 2017.    REUTERS/Toru Hanai

    File Photo: SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo, Japan, February 8, 2017. REUTERS/Toru Hanai (Copyright Reuters 2017)

  • The T-Mobile store sign is seen in Broomfield, Colorado February 25, 2014.  REUTERS/Rick Wilking

    The T-Mobile store sign is seen in Broomfield, Colorado February 25, 2014. REUTERS/Rick Wilking (Copyright Reuters 2017)

Shares in SoftBank Group Corp <9984.T> rose 2 percent in morning trade on Monday after a Reuters report that the Japanese company is prepared to cede control of Sprint Corp to T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers.

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SoftBank is expected to approach T-Mobile parent Deutsche Telekom AG for negotiations when an ongoing auction of airwaves ends in April and a ban on talks between rivals is lifted, people familiar with the matter told Reuters.

(Reporting by Makiko Yamazaki; Editing by Chang-Ran Kim)