By Marina Lopes, Soyoung Kim and Liana B. Baker WASHINGTON/NEW YORK (Reuters) - The long-anticipated merger of Sprint Corp and T-Mobile US Inc is not expected to occur before September, with the companies continuing due diligence and preparing a detailed case for a deal before U.S. regulators, according to people familiar with the matter. Japan's SoftBank Corp , which controls Sprint, and T-Mobile owner Deutsche Telekom AG have agreed to broad terms of a deal, under which Sprint would pay around $40 per share for T-Mobile, valuing the smaller rival at nearly $32 billion, Reuters reported in early June. Representatives for Deutsche Telekom could not be immediately reached for comment, while representatives for Sprint, T-Mobile and SoftBank declined to comment.
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