Off hand I can't think of any decent sized companies to buy that would be beneficial.
Just was thinking about it, if T-Mobile and Sprint merge, that could be problematic for Verizon and at&T. Personally I think the merging of cell companies is at a time that it could be bad for the consumer
I don't think Sprint and T-Mobile will merge, the talks hit snags again this Spring. Sprint is now having exclusive talks with cable companies. The are desperately trying to find someone to invest 10 Billion dollars.
T-Mobile is already growing fast and are now bigger than Sprint. Any merger would see T-Mobile running the show. Another problem would be the amount of debt T-Mobile have to inherit from Sprint and to cover the merger costs. Also, T-Mobile would have to slow down a lot of their expansion to find ways to move Sprint customers off CDMA.
On the positive a merged T-Mobile and Sprint would have a lot spectrum, but I could see the FCC maybe forcing them to sell some of the spectrum. Strange mergers happen all the time and this one may still happen, but I think if it was going to happen it would have already been completed.