Sprint Chairman Masayoshi Son approached Warren Buffett to discuss a deal with the telecoms company, according to The Wall Street Journal’s Ryan Knutson and Shalini Ramachandran.
Son also met with John Malone, the cable mogul, at the Allen & Co. annual conference in Sun Valley, Idaho, the report on Friday said.
The Journal reported that details of the deal are still unclear, but could be an over $US10 billion investment in Sprint from Berkshire Hathaway.
Spring shares gained more than 3% after the news crossed.
Amid fierce competition among the largest telecommunications companies, the chief financial officer of T-Mobile had said the company would benefit from a merger with Sprint.