French telecom Iliad makes bid for T-Mobile US
A French company is looking for a way into the U.S. telecom market.
Iliad has made an offer to buy T-Mobile US (TMUS). According to a company news release, Iliad offered $15 billion in cash to buy 56% of the T-Mobile US. That works out to about $33 per share. Trading in T-Mobile US shares was briefly halted following news of the offer.
Paris-based Iliad (ILD) was founded in 1999 and works in the land line, mobile and Internet space.
Sprint and T-Mobile US are currently pursuing a tie-up. Any deal between the two is expected to face stiff antitrust scrutiny, but Iliad believes its offer for T-Mobile US would be viewed favorably by U.S. regulators because the company isn’t active in the U.S., the Wall Street Journal reported.
T-Mobile US is owned by Deutsche Telekom AG.