Rumor has it Deutsche Telekom may be selling its T-Mobile business in the US. Other rumors say the company simply plans on upgrading the operator's network in a bid to be more competitive.

A sale of T-Mobile USA could reportedly net the German telecommunications firm upward of $30 billion while the price of a serious upgrade will cost the company $10 billion. Looks like a no-brainer. Or does it?

Thirty billion in American green is good, if you can get it. Vodafone has been named as a possible buyer for T-Mobile USA, by everyone but Vodafone. The British company has repeatedly denied plans to purchase the American cellular division. Some industry insiders say the German based company could be snatched up by a number of different cable operators looking to enter the cell phone market but no offers have been put forward.

If a company is only worth what investors are willing to pay for it, $30 billion may be jumping the mark a little. With T-Mobile USA listed as one of the fastest growing US cell phone providers during the past few years, a $10 billion refurbishment investment may not be such a bad idea afterall.

In 2004 T-Mobile reported a 30 percent increase in US customers alongside revenue growth of nearly 50 percent. If Deutshe Telekom can get a buyer, and this is the billion dollar question, they may be selling off one of their fastest growing businesses.

Neither Deutsche Telekom nor T-Mobile USA have commented on whether the company planned to refurbish or sell.