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Sprint and T-Mobil close to finalizing merger

The future of the US wireless industry may soon be in the hands of the Obama administration.

Reports indicate Sprint and T-Mobile are close to finalizing a 32-billion-dollar-merger proposal.
   
If approved by regulators, the deal would unite the nation's third- and fourth-largest carriers.

The combined company would generate estimated subscriber numbers comparable to industry leaders AT&T and Verizon.
   
Both Sprint and T-mobile have been losing money consistently.