With a more favorable regulatory environment and final due diligence being conducted, it is expected that Sprint and T-Mobile will once again attempt for a merger when they announce earnings this month.

The United States’s fourth- and third-largest mobile carriers by subscriber base would still be the third-largest if combined, but would only be short of second-place AT&T by a few million subscribers.

Bloomberg reports from its source that the all-stock deal still requires some mathematics on how Sprint shares will be valued against T-Mobile’s. Corporate administration details are also being ironed out like headquarters and personnel.

If the deal doesn’t pass regulatory muster, just as it did not when the first merger attempt occurred in 2014, the two have agreed to not have a breakup fee charged, though Sprint may pursue termination remedy in the form of cash.

Sprint is currently valued at $29 billion with shares price at $7.36. T-Mobile has nearly $52 billion in market capitalization with shares priced at $62.41 at the end of Friday’s trading. Each will report earnings near the end of the month.

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