Investing.com -- Shares of AT&T and Verizon experienced price and volume spikes on Tuesday following a Bloomberg report that Deutsche Telekom is considering a full combination with T-Mobile US.

According to the report, the potential deal would create a single, simplified corporate group that controls the operations of Deutsche Telekom and T-Mobile.

Both AT&T and Verizon shares spiked roughly 1% higher following the news before giving back some of the gains.