The Globe and Mail reports in its Wednesday edition that unnamed sources say Deutsche Telekom is mulling a full combination with US that could result in the largest public M&A deal on record. A Reuters dispatch to The Globe reports that the German telecoms group has been in talks about creating a new holding company that would make a stock bid for shares of both Deutsche Telekom and T-Mobile. Deutsche Telekom is the majority shareholder in T-Mobile, with an interest of nearly 53 per cent. Shares of T-Mobile, with a market value of about $218.57-billion (U.S.), rose more than 1 per cent following the news. Deutsche Telekom has a valuation of about $166.46-billion (U.S.). In February, the company said it had no plans to sell any T-Mobile shares in 2026. The potential merger could create the world's biggest wireless operator by market capitalization, beating China Mobile, valued at $234.67-billion (U.S.). "Deutsche Telekom's tighter grip on T-Mobile is all about backing its strongest asset and building the broader group around that momentum," said PP Foresight analyst Paolo Pescatore. Discussions are preliminary, and any transaction needs political support to progress, with details subject to change.