Pitches are taking place this week for the account, which incorporates its pan-European T-Mobile brand.
The review, being led by the company's procurement operation, is expected to see the telecoms giant consolidate its media account into one network.
In Germany, the domestic Deutsche Telecom brand is handled by MediaCom.
Meanwhile, Universal handles T-Mobile's pan-European media account, after a consolidation of the business across the region in 2002.
MindShare has no relationship with the company. The agency does handle its rival 3's UK media, however.
The last time the company reviewed its UK media was in 2002 after it bought One2One in the UK and rebranded it as T-Mobile.
Universal McCann won the £20 million UK T-Mobile media account from Starcom Motive at the end of 2002 as part of the European consolidation. At the same time, the creative account was moved into Saatchi & Saatchi, out of Bartle Bogle Hegarty.