France’s Iliad Group Monday formally dropped its pursuit of T-Mobile after parent Deutsche Telekom
France’s Iliad Group formally dropped its pursuit of T-Mobile Monday, after parent Deutsche Telekom made clear it wasn’t interested. Iliad made a play for the carrier at the same time Sprint was pursuing a deal 1408010016. But Iliad said Deutsche…
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Telekom and board members of T-Mobile US “refused to entertain” its latest offer (http://bit.ly/1v8otDx). After T-Mobile rejected Iliad’s initial bid, the company said it put together a second offer of $36 per share to buy 67 percent of T-Mobile, a $15 billion offer. Iliad’s initial offer was $33 per share for 56.6 percent of the U.S. carrier. “Iliad had the ambition to accelerate T-Mobile US’ transformation, notably by saving more than US$2 billion of cost annually,” Iliad said. “This transaction would have created significant value for both Iliad's and T-Mobile US’ shareholders.”