Well known German Spiegel Magazine publishes a hot rumor today on Saturday. Their sources tell them that the Deutsche Telekom is looking into buying Sprint.

Spiegel says that U.S. Telekom and German Telekom managers are currently evaluating a Sprint deal.
This deal would be huge and risky as hell, with Sprint not really doing that great these days.

On the other hand Sprints problems also make the company "affordable". Additionally the dollar is weak which could drop the price of Sprint lower than what Telekom paid years ago for Voicestream.

If Deutsche Telekom (T-Mobile) would buy Sprint it could get pretty close to the largest wireless carrier AT&T.
More details on the Spiegel (German).