Sprint Corp. and T-Mobile US Inc. are close to agreeing on new terms for their merger, according to people familiar with the matter, as the wireless carriers race to close the deal after overcoming a federal court challenge.
The parties are in advanced discussions on an agreement to effectively improve the exchange ratio in the all-stock deal in favor of T-Mobile’s parent, Deutsche Telekom AG, the people said. The new terms would leave the German company with about 43% of the combined company, up from just below 42% under…