As T-Mobile and Sprint await the Department of Justice and Federal Communication Commission's decisions on their merger, a new report has come out that says the carriers may make some concessions to help boost the deal's odds of approval.

T-Mobile and Sprint are considering a few concession options, including a separation and sale of their prepaid businesses. T-Mo and Sprint are also thinking about selling some of their spectrum licenses or setting up a fourth U.S. carrier through a network-leasing agreement, but Bloomberg sources say that those options are much less attractive to the T-Mobile and Sprint.

Before they can actually merge, T-Mobile and Sprint's deal must be approved by the DOJ and FCC. Some people have concerns that the combined company would have too much of the prepaid market, as a combination of Metro by T-Mobile, Boost Mobile, and Virgin Mobile would give the new T-Mobile a 42 percent share of the prepaid market. Critics of the deal have said that this could lead to a decrease in competition, which could then lead to less choice and higher prices for consumers.

A recent report suggested that DOJ staffers told T-Mobile and Sprint that their merger is unlikely to be approved as it's currently structured. While that rumor is unconfirmed, this new report that T-Mo and Sprint are considering making concessions suggests that they're concerned that their deal may not be given the green light.

T-Mobile and Sprint recently extended the deadline for their merger to July 29, 2019. The FCC is currently on day 161 of the 180-day shot clock on its review of the deal.