US mobile network carrier T-Mobile is reportedly in talks with the Dish satellite network over a potential merger that would see the two firms combine operations as part of the latest wave of consolidations in the American telecoms market.

According to the Wall Street Journal, talks are only in “the formative side”, with the financial side of the deal still far from completion. The exact purchase price and mix of stock and cash that would be used has not be decided upon, and the deal could still fall through.

However, the two sides are close to reaching an agreement over what form the combined company would take, with people familiar with the deal quoted as saying Dish chief executive Charlie Ergen would become the companys chairman, while John Legere, chief exec at T-Mobile, serving as CEO.

The deal would be the latest in a series of mergers and acquisitions that has seen the number of players in the US market dramatically shrink, as various firms attempt to consolidate into quad-play providers, offering mobile, broadband, TV and land-line telephone services.

Charter Communications recently announced a $78.7bn (£50.9bn) deal to takeover Times Warner Cable and Bright House networks that will see it form the second-largest US cable operator, while mobile network AT&T is reportedly close to acquiring Dishs main rival, DirecTV, in a $49bn deal.