T-Mobile, Verizon in talks to buy parts of US Cellular: Report

T-Mobile and Verizon Communications are in talks to buy parts of United States Cellular in separate transactions, the Wall Street Journal reported on Thursday.

Shares of the regional wireless carrier jumped about 8.6% to $39.08.

T-Mobile is closing in on a deal to buy a chunk of U.S. Cellular for more than $2 billion, taking over some operations and wireless spectrum licenses, the report said citing people familiar with the matter.

Verizon’s talks with the regional carrier is expected to take longer and might not result in an agreement, the report added.

The three companies did not immediately respond to Reuters’ requests for comments.