Feeds

Ah ha, mon amour violet ... French Iliad attempts to nibble on T-Mobile US

Offer for American telco may already have been tossed in le poubelle

Choosing a cloud hosting partner with confidence

French telco Iliad has made a surprise offer to acquire a majority stake in mobile carrier T-Mobile US, though the bid may have already been shot down.

Following multiple press reports, Iliad confirmed it was indeed making an offer to buy out a 56.6 per cent stake in T-Mob US.

"The US mobile market is large and attractive," the French broadband and mobile service provider said [PDF].

"T-Mobile US has successfully established a disruptive position, which in many ways, is similar to the one Iliad has built in France."

According to Iliad, the acquisition offer totals $15bn in cash for a controlling stake. The company would pay $33 per share. T-Mobile US stock was trading at $32.94 Thursday afternoon, up $6 following the firm's latest quarterly report.

The French company said it would secure the funds for the deal from financiers via a combination of "debt and equity."

T-Mobile US has been linked to multiple merger and acquisition rumors as of late. Most notably, the company was linked to an acquisition by rival wireless carrier Sprint. A bid from another company could be seen as preferable by shareholders weary that US regulators would strike down a Sprint merger consolidating the US mobile market.

According to reports, however, Iliad's ambitious offer for T-Mobile US may be dead before it even leaves the ground. The New York Times cited sources at majority shareholder Deutsche Telekom in saying that the company has already turned down the bid.

Word of the Iliad offer comes as T-Mobile US reported continuing growth in its subscriber base on the strength of the "Uncarrier" promotional campaign. CEO John Legere reported that the firm added 1.5 million new subscribers in the last fiscal quarter, inflating the company's total customer base to 50.5 million people. ®

Beginner's guide to SSL certificates

More from The Register

next story
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
Ofcom tackles complaint over Premier League footie TV rights
Virgin Media: UK fans pay the most for the fewest matches
FCC: Gonna need y'all to cough up $1.5bn to put broadband in schools
Kids need more fiber, says Wheeler, and you'll pay for it
NBN Co screws lid on FTTP coffin
Copper and HFC dominate in new corporate plan
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.