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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Sea-Me-We 5 construction starts
New sub cable to go live 2016
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
BT claims almost-gigabit connections over COPPER WIRE
Just need to bring the fibre box within 19m ...
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.