I doubt that a consolidation/merger between them would be able to get through the regulatory agencies. Both the FTC and FCC would come down hard on a merger of that magnitude.
Remember that the non-deal that ultimately led to the unraveling of WCOM was the FTC refusing to allow their buyout of Sprint. That merger would have been lesser by a lot and reduction of competition was the reason for the denial. The same would hold true on what you are hypothesizing.
Suggest you change your alias from "mastersaysup" to "mastersayspump".