T-Mobile spiked higher after The Wall Street Journal reported that it received a buyout offer from France's Iliad.
The Journal's report said the offer from Iliad was made less than a week ago, but said it is unclear what response T-Mobile's board has had to the offer.
T-Mobile shares were up 5% after the report, while s hares of Sprint were down about 3%.
Sprint and T-Mobile have long been seeking a merger, and in early June it was reported that company's were "close" to a deal that would've seen Sprint acquire T-Mobile for $32 billion.
Citing a person familiar with the deal, WSJ reported that Iliad believes U.S. authorities would view its offer favorably because it is not active in the U.S.
Earlier today, T-Mobile reported second quarter revenue grew 8% over the prior year, with the carrier reporting 1.5 million net customer additions in Q2.