T-Mobile US, Inc., the country's fourth largest wireless network, is going to be sold to Softbank Corporation, one of Japan's top telecommunications and Internet firms.

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Japanese news agency Kyodo News has reported that Deutsche Telekom, parent company of T-Mobile USA, has agreed to sell T-Mobile US. The German telecom giant will reportedly sell its 67 percent stake in T-Mobile US to Softbank.

Kyodo did not reveal the acquisition price and other details about the deal.

London-based international news agency Reuters, however, said no decision about T-Mobile US' sale to SoftBank is imminent. It pointed out the deal is nowhere near closing despite indications that Deutsche Telekom and SoftBank want the push ahead with the sale.

Industry sources said the sale requires both companies to hurdle a number of obstacles and that Deutsche Telekom will likely retain its minority stake in T-Mobile US.

With its headquarters in Washington, T-Mobile US provides wireless voice, messaging and data services in the USA, Puerto Rico and the U.S. Virgin Islands under the brands T-Mobile, MetroPCS, and GoSmart Mobile.

The company has some 49 million customers and annual revenues of $24.42 billion. Its nationwide network reaches 96 percent of Americans.