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Over the past few months there have been endless reports that Sprint is going to acquire T-Mobile. The former was said to have raised financing as well for the deal which reportedly fell through a few weeks ago. Before that happened a French telecommunication company called Iliad made a bid for T-Mobile U.S. but the price offered wasn’t accepted by Magenta’s people. It looks like Iliad isn’t giving up on its ambitions soon. Word on the street is that it is looking towards private equity firms that might want to team up for the T-Mobile acquisition.

Iliad might be hopeful that a revised offer might be accepted as Deutsche Telekom, which owns the majority stake in T-Mobile U.S., hinted recently that it will be open to an offer that’s above $35 per share. However a revised offer has not been submitted as yet.

The valuation presented by Deutsche Telekom might also pave the way for offers coming from other potential suitors. Dish Network is rumored to be interested in T-Mobile as well. Iliad’s previous offer was at $33 per share which was rejected by Magenta.

The reaction from federal regulators over a sale of T-Mobile U.S. to a French telco has already been under a lot of speculation. Regulators were reportedly not happy about consolidation in the market had Sprint bought T-Mobile. But under foreign ownership the carrier would remain independent and there would be no consolidation, so its expected that regulators might not look upon this deal too harshly.

Filed in Cellphones. Read more about T-Mobile.

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