T-Mobile US, Inc (NYSE:TMUS), the fourth largest wireless communications provider in the United States gained 8.65% to $27.64 per share on Friday on report that its rival Sprint Corporation (NYSE:S) is considering a potential takeover next year.

Sprint Corporation (NYSE:S), the third largest wireless carrier in the country is evaluating possible antitrust obstacles, and it might end up pursuing a proposal to acquire T-Mobile US, Inc (NYSE:TMUS) during the first half of 2014, according to report from the Wall Street Journal based on information obtained from unnamed sources knowledgeable about the situation.

Some observers in the technology industry believe that a merger between the two wireless carriers could raise concerns among regulators regarding competition. Walt Piecyk, analyst at BTIG LLC opined, “There is little chance for a Sprint/T-Mobile deal to get through regulators over the next two years.”

A transaction between T-Mobile US, Inc (NYSE:TMUS) and Sprint Corporation (NYSE:S) could be worth as much as $20 billion, according to the newspaper. Three major companies will only dominate the wireless market in the United States, if regulators approve Sprint’s acquisition of T-Mobile. The two other major wireless carrier in the country are AT&T Inc (NYSE:T) and Verizon Communications (NYSE:VZ).

T-Mobile US (NYSE:TMUS) is majority owned by Deutsche Telekom AG (ETR:DTE) with 67% stake in the company. Softbank Corp (TYO:9984) owns more than 80% stake in Sprint Corporation (NYSE:S).

Japanese billionaire, Masayoshi Son, founder and CEO of Softbank Corp (TYO:9984) was reportedly the driving behind Sprint’s interest in acquiring T-Mobile. The stock price of Sprint Corporation (NYSE:S) also climbed by 3.44% to $8.43 per share.

Two years ago, AT&T Inc (NYSE:T) proposed to acquired T-Mobile for $39 billion, but the deal was blocked by the Department of Justice (DOJ). Will regulators change their mind and approve a Sprint/T-Mobile merger?