Shares of T-Mobile, Sprint jump on report of 'active' merger talks

Sprint CEO Marcelo Claure

But since that time, T-mobile has surpassed Sprint in overall market capitalization, nearly doubling the market value: Sprint sits at about $30 billion while T-mobile has skyrocketed to a market value of about $51 billion.

According to CNBC who spoke with a few people familiar with the matter, Sprint and T-Mobile are in active merger talks.

T-Mobile jumped as high as 4.17% in trading Tuesday morning, while Softbank-controlled Sprint spiked 7.83%. This would make Sprint-owner, SoftBank a large minority owner in the combined company.

According to CNBC, T-Mobile CEO John Legere would be expected to lead any combination that comes from a deal, though Son would want a say in how the company is run. Which makes the entire thing pretty complex.

The two companies previously held merger talks in 2014, that time with Sprint angling to become the majority owner of the two carriers, but the deal fell through over regulatory concerns. But there's another level to this as well. Even if they agree on terms, it's unclear whether antitrust officials would approve a deal that reduces the number of major wireless carriers from four to three. As reported, T-Mobile has yet to complete any due diligence on Sprint, and to further complicate the situation, heavy thought must be put into whether antitrust regulators would allow for the #3 and #4 ranked United States carriers to merge.

T-Mobile's parent company Deutsche Telekom is said to be in active merger talks with Japan's SoftBank Group, who now owns a majority stake in Sprint. Which adds more credit to these sources that CNBC talked too.

Of course, even if such a deal could be struck, the marriage of two of the nation's largest wireless companies would undoubtedly have regulators salivating.

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