A T-Mobile store sign is seen in Broomfield, Colorado Thomson Reuters (Reuters) - Deutsche Telekom AG has agreed to a plan by Japanese mobile company Softbank Corp to buy T-Mobile US Inc, the fourth-largest U.S. mobile carrier, Kyodo news agency reported, citing industry sources.

Deutsche Telekom owns two-thirds of T-Mobile US. A spokesman for Deutsche Telekom declined to comment.

Softbank Chairman Masayoshi Son proposed the buyout in a meeting with top executives of T-Mobile and Deutsche Telekom in mid-May and received a positive response, Kydo reported.

(Reporting by Sruthi Ramakrishnan in Bangalore and Peter Maushagen in Frankfurt; Editing by Saumyadeb Chakrabarty)