Charter shares surged in pre-market, while Sprint shares were up a tad - 0.49%.
It is a plan that Sprint's majority owner - Japanese giant SoftBank Group Corp is keen to see it go through.
On Sunday, reports emerged that SoftBank was considering making an acquisition offer for Charter, which has a market cap of US$101bn as early as this week.
But Charter Communications was quick to say the same day that it was not interested in acquiring the US wireless carrier giant.
A merger of the two titans - Charter and Sprint would create a telecomms behemoth, creating a so-called one-stop shop for customers looking for internet and mobile phone services.
Sprint's market cap is US$32.8bn but it also has a similar amount in debt.
A Charter bid would give SoftBank majority control and would require raising billions of new debt and could push SoftBank to leverage some of its other assets, including its 29.5% stake in Chinese internet giant Alibaba Group Holding Ltd (NASDAQ:BABA) and its 43% stake in Yahoo Japan Corp.