Sprint stock up more than 60% after report that U.S. District judge is set to rule in favor of its deal with T-Mobile

A federal judge is expected to approve the Sprint and T-Mobile merger, sources say. davidfaber joins SquawkCNBC to discuss.

also confirmed the news in a New York Times article.The third-largest U.S. wireless carrier by subscribers has been awaiting a decision from a federal judge on whether it can move forward with its $26.5 billion merger with Sprint.

However, a deal can't close until the California Public Utilities Commission approves the transaction, which still hasn't occurred nearly two years after its announcement. T-Mobile, Sprint and Dish Network, which is awaiting approval to start a new national wireless network, all haven't seen the judge's ruling, according to people familiar with the matter.

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