A few months back after it became clear that Sprint was no longer trying to acquire T-Mobile US we started hearing about a potential suitor for the carrier from France. The Iliad Group, a French telco, had submitted a bid for the carrier amounting to $15 billion for 56.6 percent stake but T-Mobile refused it saying that the offer was too low. The telco then announced that it would submit a revised bid for a 67 percent stake at $36 per share but this offer has not been entertained. Iliad formally announced today that it is no longer going to pursue the possible acquisition of T-Mobile US.
In a press release Iliad announced today that its talks with Deutsche Telekom failed to achieve any result. DT owns a majority stake in T-Mobile US and it would have to agree to a deal before any acquisition can take place.
Iliad has said that following exchanges with Deutsche Telekom and now that some board members of T-Mobile US have “refused to entertain” the revised offer, the Group has put an end to this potential acquisition.
It was widely speculated that federal regulators may be more open to this deal as opposed to a merger with Sprint but things never progressed to a stage where regulators had to decide whether or not to let the deal go through.
Filed in . Read more about T-Mobile.