CNBC is reporting that Sprint and T-Mobile are very close to a summer merger. This rumor has been floating around for a few months now with many T-Mobile customers praying this would not happen. The differences in service and customer service between the two companies is night and day. One hopes that Sprint’s cancer wouldn’t be thrown on T-Mobile but it’s looking like we won’t get that lucky. Full CNBC report below.

CNBC Sprint and T-Mobile are close to setting terms for a summertime merger, Dow Jones reported Wednesday afternoon, citing sources. The breakup fee would come in above $1 billion, and the purchase price would total about $40 a share, according to the report. The proposed deal would comprise 50 percent stock and 50 percent cash for T-Mobile, leaving Deutsche Telekom with about 15 percent of the combined company, Reuters reported, citing Bloomberg. This story is developing. Please check back for further updates.

There’s so many questions in the air if this does happen. What happens to all the awesome programs that T-Mobile has put into play for customers? JUMP? No contract phone buying? The biggest question of them all is will this merger pass the government’s blessing? As a former Sprint customer who paid a lot of money to get out of Sprint and go to T-Mobile. I’m very nervous about this one. The level of service provided by Sprint was less than stellar and from experience I can only assume it’s not going to change. But maybe I am being a bit harsh. I certainly hope I am wrong. Stay tuned for more as this story develops. And let us know what you think in the comments below or on Google+, Facebook and Twitter. Our social media links are to the left of your screen.

*Note: Recently a reddit reader pointed out my article reads editorial more than news and they are correct. While there is news in this piece there is also a heavy amount of opinion. CNBC offers the short version above. I apologize that we did not label this as an editorial, we have changed that since. Thank you for your understanding.*

Sources: CNBC, The Verge, Bloomberg