Sprint is considering taking over its smaller rival, T-Mobile US, and might make a bid during the first half of 2014, according to The Wall Street Journal.

Sprint had not yet made a decision and is currently thinking over the regulatory implications, according to the Journal, which cited people familiar with the company.

A deal like this would be extremely controversial and could potentially be blocked by U.S. regulators.

There is also a chance that satellite TV provider Dish could compete with Sprint for the control over T-Mobile, as Dish Chairman Charlie Ergen has previously said a T-Mobile merger was a "potential option" for the company, according to Reuters.

Sprint has yet to comment on the news as of press time. They're 80 percent owned by Japan's SoftBank, whereas T-Mobile is majority owned by Deutsche Telekim.

Dish has also declined to comment.

The unnamed source believes that separately, Sprint and T-Mobile cannot compete with the likes of Verizon, but if they join up the two operators could make things interesting.

T-Mobile US CFO Braxton Carter said in an interview with Reuters in September that a Sprint/T-Mobile deal would be the "logical ultimate combination."

Not everyone thinks it's a good idea however.

"The public doesn't need fewer competitors and fewer choices, not when the wireless market already has so little competition," a statement from Free Press said, according to Reuters. "The public will get nothing good out of this deal."

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