A merger between the two companies would make the new firm the largest mobile network in Britain, shunting Vodafone and O2 into second and third place, at least in terms of customer numbers.
The merged firm would have more than 28 million customers and 37% of the market share, which isn't necessarily good news for the consumer.
James Parker, moneysupermarket.com's mobile phone expert, said: "If this merger does go ahead then it will ultimately mean one less mobile operator in the UK market and could potentially mean less choice for the consumer.
"T-Mobile may currently be one of the smaller players but it has been creative with its tariffs and Orange also has unique deals such as Orange Wednesdays."
So, if there is a danger that choice is going to dip, how can you be sure you're on the best deal?
Are you on the right tariff?
Millions of us waste money through our mobiles. We pay for minutes we never use, or we use more than our tariffs allow and are hit with high charge rates.
James recommended people to carefully examine their phone habits to make sure they are only paying for what they need.
"Everyone uses their phone in a different way but there are so many tariffs out there, you're bound to find one that works for you. Think about how you use your mobile, do you mostly text or call, do you use it to browse the web, do you need to use it overseas?
"Unfortunately, there is no one deal that's best for everyone, so take some time and find the best for your needs."
Anyone looking for a new mobile contract should also give some thought to whether or not they are happy with their existing handset. You don't always need to change phones when you move contracts and using your existing mobile could help you bag a better deal when it comes to minutes and texts.
What deals are on offer?
Well, as James pointed out, how competitive a tariff is depends on your usage. But we've drawn together a few of the leading options for certain types of customers. In order to show you the very best deals, all the below are 18-month contracts, unless they are pay-as-you-go (PAYG).
Light phone users: If you hardly use your phone, you could be better off with a PAYG deal and there are some decent offers out there. For example, Virgin Mobile gives you 300 free texts if you top with up £10 - which is around 50 minutes. You will however, have to buy a handset if you opt for PAYG.
If you'd prefer a contract, Vodafone has a half deal that costs £15 a month, allowing you 100 minutes and 500 texts. Alternatively, 3's Mix & Match 500 tariff is £18 a month but gives you 500 minutes or texts.
Medium phone users: If you use your mobile regularly, PAYG is probably not the cheapest route. The good news is, there are some great deals available.
T-Mobile's Combi 30 tariff costs £30 a month and offers 800 minutes and unlimited texts. If that's too pricey and too many minutes anyway, 3's Mix & Match 700 comes in at just £21 a month for 700 minutes or texts.
Heavy phone users: If you're a complete phone addict, forever texting or calling, then you need a contract that meets your needs without emptying your wallet. How about the Orange Dolphin 45? This costs £44.05 a month but gives you 1,200 minutes and unlimited texts.
If that's overkill, Virgin has a contract at £35 a month for unlimited texts and 800 minutes, or 3's Mix & Match 1100 is priced at £27 a month but offers 1,100 minutes or texts.
If you want the look
Of course, it isn't just decent tariffs people are after. There are some incredibly popular handsets, and choosing a deal that includes the phone you want doesn't mean you have to settle for a rubbish tariff.
For example, if it's a Blackberry 8900 Curve you crave, you can get one free with Orange's Panther 45 deal at £44.04, which includes 1,200 minutes, 500 texts and unlimited push email.
If you'd rather pick up an iPhone, the 3G 8GB comes free with any O2 monthly tariff costing £44.05 or more. At that price, you can have 1,200 minutes, 500 texts and unlimited Wi-Fi.
To compare the tariffs available with the latest handsets use our mobile phone comparison tool.
Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing. Products underlined can be applied for directly.
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