According to rumors on Dow Jones Newswires picked up by the WSJ France Telecom's Orange and German Telekom UK's T-Mobile merge.
Orange T-Mobile would be UK's largest mobile phone carrier and would make O2 just number 2.
The deal is rumored to be signed today and announced Tuesday.
T-Mobile in the UK was looking for a solution and this actually sounds like a very cool one. Update: T-Mobile and Orange Merger is Official.