No. 

The proposed merger is a 50 - 50 split between Deutsche Telekom and France Telecom, current owners of T-Mobile UK and Orange UK, respectively.

The combined revenues of the two proposed merged companies is €9.4bn (£8.25bn), with a combined workforce of 19,000, a customer base of 28.4 million and 37% share of the lucrative UK telecoms market.

If I'm a T-Mobile or Orange customer, what impact will it have on me? 

Not much to begin with. 

Both brands would remain separate for the first 18 months after the deal was completed while branding options were reviewed. 

It is estimated that the 'integration' of these two companies will cost anywhere between £600m - £800m, which will lead to "efficiencies" being made across both businesses, such as customer service headcount reductions. This could either have a positive or a negative impact on the customer experience.

Consumer groups are worried.

There are calls for the Office of Fair Trading to investigate the effects that the creation of the UK's first SuperOperator will have on competitive pricing. 

'T-Orange' would have 37% of the UK market, which would arm them with megapowers of influence over pricing and availability of high street mobile phone deals?

Wall Street and Square Mile analysts are divided. 

CitiGroup analysts reckon that the move will be good, not just for Deutsche Telekom and France Telecom, but also for smaller players like Three in the UK, while other economists look to previous disastrous mergers such as the ill-fated and acrimonious France-German joint venture, EADS. 

However, the City votes with its feet and yesterday saw Vodafone's share price rise after news reached dealers of the potential T-Orange merger.

It is likely that there will be a lot of store closures. 

Some argue this will make the high street a 'less cluttered' consumer environment but others contend that the decimation of one-fifth of all mobile high street stores nationwide will inevitably lead to mass redundancies and a dent in UK employment statistics.