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Surprise! A French telecom named Iliad bids to acquire T-Mobile


French Telecom has entered the race for acquiring T-Mobile even as Sprint made a buyout offer for the No.4 telecom carrier in the US.t-mobile-iliad

The French Telecom company has offered $33 per share or $15 billion in cash for acquiring 56.6 percent of T-Mobile US. Even though the Sprint and T-Mobile have been in talks for several months and have decided upon a deal worth $32 billion, the new bidder could increase the antitrust objections to the merger. Earlier, antitrust regulators refused the AT&T offer of $39 billion and to acquire T-Mobile.

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Germany’s Deutsche Telecom owns T-Mobile US and has sought to leave the country and has turned down the bid, a source mentioned. The $15 billion French Telecom’s bid was expected to be rejected as the company seeks to acquire a larger company and hopes to raise $2 billion in the equity deal.

“The US mobile market is large and attractive. T-Mobile has successfully established a disruptive position, which in many respects, is similar to the one Iliad has built in France,” said Iliad.

Iliad offered $36.20 per share of T-Mobile, a 17 percent premium after the market closed on Wednesday. On Thursday, shares of T-Mobile rose to by 6.94 percent to 32.94. Sprint owned by Softbank mentioned that its offer was superior and it was the best way for the company and T-Mobile to move forward. T-Mobile acknowledged the offer, but declined to comment.

The French company has reported €1 billion revenue in 2014 and is valued at €11.9 billion users. The company is known to offer cheap deals and effective customer service in France.

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About Bhanu Jamwal

bhanu@thenextdigit.com'
Living in Aldine, TX, he writes about Mac, iOS, Android and IT Hardware. Apart from writing on The Next Digit, he is also an expert in providing valuable seminars on IT Peripherals and IT Security. All posts by Bhanu

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