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KEY POINTS T-Mobile is considering a cut to its multibillion merger with Sprint, people familiar with the matter tell CNBC's David Faber.

The deal cannot close until the companies resolve an ongoing lawsuit from several state attorneys general. The trial is slated to begin Monday.

John Legere, chief executive officer and president of T-Mobile US Inc., left, listens as Marcelo Claure, chief executive officer of Sprint Corp., speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 30, 2018. Michael Nagle | Bloomberg | Getty Images

T-Mobile is considering a cut to its multibillion merger with Sprint, people familiar with the matter tells CNBC's David Faber. The Department of Justice announced earlier this year that it reached an agreement on the more than $26 billion merger between the two communications companies. Shares of T-Mobile and Sprint hit new all-time highs following the summertime announcement, with Sprint rising to $8.06.