French telecoms company, Iliad makes bid for T-Mobile [UPDATE x2: Rejected]

The logo of French low-cost telecoms provider Iliad is pictured during the company 2013 annual results presentation in Paris

A fresh report today from the Wall Street Journal claims that T-Mobile US has a new suitor in French telecommunications company, Iliad. The company has allegedly made a buyout offer for the carrier, in an attempt to compete against SoftBank/Sprint. 

During the earnings call’s Q&A section earlier today, John Legere stated that T-Mobile was looking at various options for growing its business within the U.S. His answer was in response to a question regarding Sprint, and the long-rumored merger between the two companies. Could this be one of those other options on the table? 

The offer was apparently made less than a week ago, and we’re not exactly sure how much the offer was worth. We’re also not sure how the French company will afford the deal, given that it is – in itself – worth less than T-Mobile. The French company’s market value is around $16 billion, where T-Mo’s is $24.8 billion. WSJ’s sources claim that Iliad is attempting to secure financing. There’s also no word on whether or not T-Mobile has even responded to the offer. 

“Iliad, which has sparked a fierce price war in France’s mobile-telephone market via its cutthroat rates, sees the offer as a “one-time opportunity to enter the world’s-largest telecoms market,” said the person.”

It’ll be interesting to see if this offer goes anywhere. Given the fact that SoftBank’s proposed take-over is so far along, surely the latest bid from Iliad is too late? Who knows. There is one thing going in Iliad’s favor: Regulators won’t have any major issue with the French company taking over, since there’s no threat of turning the 4 major carriers in to 3. 

UPDATE: Holy Moly, it’s true!

Iliad issued a response to all the press speculation, claiming that it is indeed interested in T-Mobile and has offered $15 billion in cash for 56.6% of T-Mobile US at $33 per share.

“The US mobile market is large and attractive. T-Mobile US has successfully
established a disruptive position, which in many ways, is similar to the one Iliad has built in France.

Iliad has submitted to the Board of Directors of T-Mobile US an indicative offer for T-Mobile US. The offer has the full support of Mr Xavier Niel (founder and majority shareholder of Iliad) and was unanimously approved by Iliad’s Board of Directors.The offer is subject to certain conditions, including notably due diligence on T-Mobile US.

Iliad has offered $15 billion in cash for 56.6% of T-Mobile US, at $33.0 per share. Iliad values the remaining 43.4% of T-Mobile US at $40.5 per share on the basis of $10 billion of synergies to the benefit of the T-Mobile US shareholders. This leads to an overall value of $36.2 per share, a premium of 42% over T-Mobile US’s unaffected share price of $25.41.”

Read the press release here.

UPDATE #2: Turned Down

Iliad’s offer has been rejected according to New York Times:

Deutsche Telekom of Germany, which is the majority owner of T-Mobile US, has already turned down the bid, according to a person briefed on the matter.

Source: WSJ

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  • hanfeedback

    Anything is better than Sprint getting Tmobile. And Iliad’s Free mobile has largely been the Uncarrier of France for the past 2 years.

    • John

      As long as they offer all kind of Phones to customer after they buy T-Mobile US and not just offering just Craproid laggy phones.

      • sushimane

        there’s wouldn’t be a need to offer tmobile us customer new phone because their going to have use all the spectrum they have.

        • Jay J. Blanco

          He ment different brands like. Blu…

    • KingofPing

      This really does sound like a great idea off the cuff.

      Haven’t done more than a few minutes of googling, but it really does look like they’ve been trying t do pretty much the same thing as T-Mobile; Disrupt the status-quo and maybe eek out some profit, loyalty and customer appreciation out of the whole thing.

      From the looks of it; the two would make a truly disturbing picture for any carrier depending on the status-quo remaining … static.

      (Wouldn’t mind seeing some of the international variants available through T-Mo, either, if that were one of the perks to come of this)

  • DoDaDum

    It would be interesting if the Merger with Softbank/Sprint goes through and have Iliad come in as an investor.

    • Dpro

      Iliad does not want to be an investor . They want a piece of the U.S. Market in controlling interest. SoftBank would never let that happen if they purchased T Mobile.

  • vrm

    I don’t think that softbank is “so far along”- neither co. has officially announced anything. John L. has sidestepped every Q about merger with sprint. Every month the rumours postpone the announcement by several more months. The “so far along” notion is created by softbank/sprint planting stories and rumours in the media that they all but have t-mobile and will rock.

    I thinks that DT is just playing a game. They are in no hurry to sell. Sprint is definitely not even their #1 prospect. DT surely knows the death spiral that t-mobile will be in the clutches of sprint. DT has invested too much in the co. to just trash it like that, even for some cash.

    • Stone Cold

      All they want is to get paid

    • turtle6988

      T-Mobile is publicly traded company they can not say anything until it is official

  • Johayan

    http://www.iliad.fr/en/presse/2014/CP_310714_Eng.pdf

    Fun parts:

    Iliad has offered $15 billion in cash for 56.6% of T-Mobile US, at $33.0 per share.

    Iliad values the remaining 43.4% of T-Mobile US at $40.5 per share on the basis of

    $10 billion of synergies to the benefit of the T-Mobile US shareholders. This leads to

    an overall value of $36.2 per share, a premium of 42% over T-Mobile US’s

    unaffected share price of $25.41

    .

    The cash portion would be financed via a combination of debt and equity. Iliad has

    the support of leading international banks for the acquisition debt. The equity portion

    would be approximately €2 billion, and Mr Xavier Niel would participate in the capital

    increase.

  • Dpro

    Actually CNBC just reported technical financial details. The bid is for 56% of T Mobile U.S. At $33 a share.

    • 21stNow

      And the stock went to just above $33/share as soon as the words were uttered!

  • sb

    No longer speculation. Iliad released a press release on their website

    • Dpro

      Exactly and I think they probably have financing lined up as well.

      • Dpro

        I should add this interesting tie bit. My friend works at a corporate store here in Los Angeles and it is an interesting thing is they had an all hands on meeting on Monday evening. Oh this is a $15 billion offer.

  • Jay J. Blanco

    I’m sold. I hate sprint… let them crash and burn to #4.

  • Winski

    HAHAHAHAHAHAAHHAHAHAHAHAHA!!!! A French company holding a controlling interest of a German company???? I Think not…

    • Adrayven

      Technically it’s not a German company.. it’s a US based company with german controlling stock interest.. and DT wants out.. don’t think they care much.

      • Winski

        You’ve clearly never done business with the Germans. OR, with Legere.

        • Dpro

          You clearly don’t understand DT does not care where the money comes from as long as it’s a favorable buyout for them. They want out of the U.S. Market because they are spread thin and need to shore up their European interests. This would allow them to do that.

        • Winski

          You’re an idiot!

        • Dpro

          lol So let’s get this strait. I respond to your comment with a known stated fact that DT themselves have made in the recent past and you are calling me an idiot? lol. If you are referring to the smoke and mirrors proposed SoftBank bid that would b more than a year off you should state that. Otherwise calling me an idiot in response to my statement shows you have clearly have no real response and are on the losing end of this discussion.

        • Dpro

          Oh and excuse the mis type of straight

        • Smith

          DPRO is right. DT wants out of the U.S. Market as soon as they can. If they could do it today they would do without even thinking for a second. So no you are an i…

        • Winski

          The LAST thing that DT wants is out of the US market. They want MORE of the US market. Their goal is to put ATT (SBC) BACK into regional player status and boot Cunningham off a bridge.

        • BillSmitty

          They may not care where it comes from, but they care about the $$. A $33/sh offer vs a $40/sh offer is a big jump, one I don’t think DT would pass up. Even if the deal doesn’t go through with Sprint, the break up fee would be a nice win for DT and then they could STILL sell TMO.

        • Dpro

          Except the SoftBank rumored offer is all smoke and mirrors. SoftBank is in deep debt already due to Sprint fiasco . Sure they have backing but it would put them into even mor debt. Plus it would face extreme regulatory hurdles.

        • BillSmitty

          Huh? Softbank/Sprint have the financing lined up and working on their arguments for the FCC. Hardly smoke and mirrors. True on the debt, but iliad will have very similar issues from what I’ve read…they will have to take on a lot of debt to even try to get this done. Kind of tough for a smaller company, plus leaves very little capital to continue to build out. Teleco’s need to spend a fortune on capex to keep things going. The regulatory hurdles are minimal, IMO, Wheeler is an old telecom exec and Genachowski is no longer in the picture. Plus, nothing a few well placed donations can’t fix…sorry, the world we live in.

          I’ve been with TMO for 12 years and will more than likely stick with them, whomever buys them, but I’d take Softbank/Sprint over iliad, as of today’s details. We’ll see..Legere seemed pretty confident on CNBC today, so doesn’t really matter to me who gets TMO as long as he’s in charge.

        • Dpro

          Well it’s not just the FCC but also the DOJ. Fact is the Iliad offer could be negotiated quickly with fast regulatory approval whereas as the Spftbank deal would be a long drawn out process with possible denial. Sorry but I would rather not see T Mobile U.S. Saddled with mess that SoftBank Sprint is right now.

        • BillSmitty

          Good point on the DOJ. We’ll see what happens!

        • Chris

          Why would you agree on a $40/share offer if you know that ti’s not gonna get approved anyways?

          That’s like me saying hey, I want the $100k per year job – which is not sure yet. And then declining an $85k per year salary offer on the table that more likely will get approval than $100k per year job.

          Everyone cares about money, but you also want to care about the money that for sure you will get.

          It’s like when people comment on football player contracts on espn and such. When a football player rejects a $60 mil $21 mil guaranteed contract for a $50 mil $31 mil guaranteed contract, everyone goes crazy and say why did he reject $60 mil contract. Well, as much as it is about total possible money earned, it’s also about guaranteed money.

          And if DT agrees to Iliad that’s basically what they are doing, going on a much safer route.

        • BillSmitty

          If you knew that for sure, yes, I don’t disagree, but no one knows that for sure at this point. It’s all just speculation based on the FCC of 2-3 years ago. Not the same crew or the same environment, especially with ATT/DirecTV, Comcast/TimeWarner, etc.

          Not sure example makes much sense in this scenario because you have shareholders to appease, it’s not an individual choice. If they can get $40/sh vs a lower offer, plus a break-up fee if it doesn’t happen, what’s the harm? They can grab some money (special distribution?) then go back and sell to someone else….that’s if it’s denied, which is a big IF, IMO.

          Anything’s possible, but I don’t see it as a “much safer route” for DT at this point. That could change, just like the markets.

        • vrm

          have you ? Germans are good people to do business with. True, they are not good businessmen and that is exactly why they are good to deal with.

          And they care about customers, which is why t-mobile’s C/S is back on top, where it was before the at&t fiasco. I wouldn’t be surprised if at&t had t-mo reps fired and the calls routed to at&t C/S.

        • Winski

          Yup… for years. BUT, you’re talking about idiotic Americans impersonating Germans… NOT the same.

        • http://rosarynovice.stblogs.com/ Augustine

          I have done business with Germans in a German company and it was the most effective partnership I’ve ever had the pleasure to be a part of. Even after I moved to other jobs, I still keep in touch with some of those Germans.

  • S. Ali

    Take it and build out that LTE network.

  • Adrayven

    Would much rather IIiad get into the US market than Sprint drag T-mobile down with them. IIiad’s business alignment is very similar and along the lines of T-Mobiles Uncarrier movement.

    They would be a good fit AND IIiad’s merger wouldn’t screw over T-Mobiles chances to bid on 600Mhz spectrum next year! Only if Carrier’s 3 and 4 merge would the auction terms be messed up..

    • yeah right

      Buy 600mhz check, then 6 – 9 months after buy Continuum wireless / US cellular and C spire.

      After Profit and watch customer additions skyrocket.

      • James Shaggy

        I like your plan but like reverse it and purchase US Cellular, Cspire, and Continuum wireless that way if the 600mhz auction is a bust then they still have low band spectrum. US Cellular would actually get them a 850mhz LTE network, so if they hunt for more 700 and 850 they could get a good amount of the nation covered.

        • yeah right

          The thing is they may not get favorable terms from the FCC if they own all that 700mhz and 850 mhz upfront. so its better to wait to secure as much 600mhz as possible without having to compete with verizon and at&t.

          After completing and having a spectrum position in 600 mhz, we can buy up the other smaller carriers under the eyes of “consolidation & spectrum optimization”

          Move people off all the 850mhz band (move them to volte on 1700 and 700) and give the 850mhz band as a trade with vzw or at&t or even sprint for something thats good for us? some AWS or PCS spectrum.

          that way we would be running LTE on 600,700,1700,1900 and get rid of everything lower than HSPA including GSM and EDGE

          This is obviously a 4-5 year plan though.

  • vinnyjr

    I want nothing to do with Sprint, don’t understand why their customers stick with them, their service is the worst in the US. Data speeds are just pathetic unless you live next door to a tower and even then it’s hit or miss. T-Mobile doesn’t need anyone, in 6 months T-Mobile will have taken over the 3rd place

  • Aurizen

    Sigh, so many ppl want to buy T-Mobile, if this goes through it’ll get approval at a much higher chance then Sprint….. But what’s the benefit for the 2?

    • Adrayven

      Mostly synergies.. They have very similar strategies, iIiad has a very uncarrier style in France.. they’ve caused a price war there for mobile..

      That alone makes me want to say yes!

      • Aurizen

        hmm, I see, but why buy if they both do it? I don’t know business but with or without T-Mobile can do it.

        • Adrayven

          They need someone to buy them out because DT wants out.. At this point because of that, it’s a question of the better of the 2 evils.. Sprint would drag T-mo down.. iIiad would at least keep them off the market for a while so they can continue on the warpath here in the US.. For Sprint.. this is largely about killing off the 4th place competitor thats giving them a headache. For iIiad they are getting into a larger market with a rising star..

          That and the combined companies gives them a more international footprint.. Sprint has almost nothing.

        • Aurizen

          I see, and the 15 billion T-Mobile would use that money for great things!

        • vrm

          I think that the $15 Billion would go to DT.

        • Aurizen

          Aw really? They’re buying T-Mobile stock though they don’t get anything?

        • Chris

          $15 Bil would go to DT since they own much of TMOUS shares and Iliad is basically buying that. Then it’ll be Iliad’s turn to fund money to TMOUS. If Iliad really wants to break through US market, they would ‘of course’ put a ton of investment into it.

        • vrm

          well, softbank does have presence at least in Japan.

  • kev2684

    interesting. just browsing for like 10 mins i saw a good amount of positive opinion about iliad in france. i’d like to see this happen than softbank merging sprint and t-mo.

  • DDLAR

    Given the difficulty in getting the Softbank sale past the regulators, I think DT will give preference to other bidders. That is, even if Iliad is offering a slightly lower price than Softbank I think they will get the deal. Of course, if there are more bids, or new bidders, then who knows what will happen.

  • Deadeye37

    Things just got more interesting….

  • wsj

    Are we getting “free porn” added to our plan too? Ok the guy is rich, but is network is mainly roaming on Orange. He only needs 12.5K more antennas in France, but has the money to buy TMUSA instead?

  • Maximus

    If TMO is on such a roll, they should be the ones to buyout another company…DT should give this another thought. I know they have wanted to get out, but TMO is looking more and more like a good investment…especially in the long term. It will be interesting to see how this plays out. I think we will be in for some more surprises.

  • adam

    Europe’s largest telecommunications operators are in a standoff with antitrust officials over how to consolidate their hypercompetitive industry.

    Operators argued in the meeting that Europe’s fragmented market, a patchwork of 27 countries each with its own telecom regulator, has created an unsustainable situation of shrinking consumer prices and revenue even as usage of their networks skyrockets.

    They contend that without the creation of a single telecom market under a singular regulator with harmonized frequencies, Europe will increasingly lag behind other parts of the globe in modernizing its telecom infrastructure, and some companies could fail.

  • adam

    In Europe, more than 100 operators owned by some 40 companies are slugging it out over a population of 505 million. The competitive environment strikes a sharp contrast with the U.S., where Verizon Wireless and AT&T Inc control most of the industry’s valuable contract customers and profits.

  • Ryan

    This just opened the door for Dish who’s been “waiting to see what happens with Sprint” to pull the trigger as well. Things are about to get interesting.

    • DirkDigg1er

      Dish, the bottom feeder, won’t compete. They like their targets to be out of options so they can low ball.

    • skittle

      Well, Dish have enough on their plate already. “Would you like a side dish of T-Mobile LTE with your satelite order?”

    • Justin Merithew

      I doubt Dish would offer any more than this, so it closes the door for them more than opening it.

  • David

    Deutsche Telekom perhaps is the biggest mobile carrier in the world and they have lots of new technology but they never put their power behind T-Mobile US. They also have lots of money and still they want to get ride of T-Mobile US. I don’t see any of these deals make T-Mobile US better. Because simply non of these companies (Sprint, lliard, Softbank, etc.) have that technology, resources and money as much as Deutsche Telekom have.

    Therefore I don’t think they can’t do much for T-Mobile US really. I am afraid T-Mobile US will get worse and worse in future with either of these deals go through. The best hope for T-Mobile US was Deutsche Telekom really put its resources, money and technology behind T-Mobile US and make it the best carrier but sadly they can’t wait to get ride of it and go out of US market.

    • DirkDigg1er

      They’re actually #12 which isn’t bad. I’m curious what technologies do you think they have available that gives them an edge?

      Source: http://www.mobileworldlive.com/top-20-global-mobile-operator-groups-by-connections-and-revenue-q1-2013

    • xmiro

      DT is not even close to being the largest. Try China Mobile, followed by Vodafone with 420 million subscribers worldwide and which used to own 40% of Verizon. They could buy T-Mobile in on swoop, full cash offer, if they wanted to after the $130 billion they got from Verizon this year

    • Bryce

      China Mobile and Softbank are actually way more technically advanced on the network side than DT.

    • Vlaix

      As far as France is concerned, Iliad has always been spearheading new tech (they were the first ones, a long time ago already, to offer IPV6 to everyone).

  • DirkDigg1er

    That offer is laughable. Tmo is hot now and you going to have to pay much more. I’m tired of companies trying to undervalue Tmo. They’d have a better chance bidding for US Cellular.

    • Erik Knudsen

      Laughable? How so? How are they trying to “undervalue” Tmob?

      • DirkDigg1er

        T-Mobile is being offered $40 per share and keeps a larger percentage with the Sprint deal. That’s roughly $5.6bn over lliard’s offer. Although this merger would more than likely be approved, Sprint may purchase Iliard and still merge with Tmo lol.

        • Erik Knudsen

          Iliad offered almost $8 per share over what the going stock price was. That’s undervaluing? Granted, it doesn’t matter now that’s it’s been turned down…but still, offering that much over the share price is far from lowballing.

        • DirkDigg1er

          Iliad values the remaining 43.4% of T-Mobile US at $40.5 per share on the basis of $10 billion of synergies to the benefit of the T-Mobile US shareholders. This leads to an overall value of $36.2 per share, a premium of 42% over T-Mobile US’s unaffected share price of $25.41.”

          TMUS stock was $32.13 before Q2 report and currently $32.94. Since Sprint’s bid speculation in Dec. ’13, the price per share has been $30+. All that dribble above is worded to undervalue shares. How can they seriously contend for TMUS with an inferior offer than the one that’s currently on the table.

          If I offered you $400 for you phone and you accepted, would you sell it to someone else for $325? LOL.

        • Marc

          I am sure he would sell some 56% of his phone for $325…

    • Justin Merithew

      They’re not trying to undervalue T-Mobile, they’re offering every penny they can. Also, the only other known offer on the table, from Sprint, is for more money, but very likely to get blocked. It seems like a pretty reasonable offer for a no fuss slam dunk deal like this.

  • sushimane

    This is crazy I curious how would everything fall into play. Hopefully everything ends up good for us.

  • WelcomeFromage

    This is amazing news. Ilyad is the owner of Free in France. They’re about to disrupt the US market heavily!

    • James

      Best news all day. AT&T and Verizon board members are probably shitting in their pants as we speak

      • Jay J. Blanco

        They already have. When they saw tmobile 2Q Report

  • Trevnerdio

    If everyone wants to suddenly buy you…you’re obviously doing something right. So don’t mess it up. Just let T-Mo be.

    • Justin Merithew

      DT wants out of the US though, so Tmo will be sold at some point. It’s just a matter of who the buyer will be and when.

      • Baxter DeBerry

        agreed T-Mobile USA has no power in selling.. if DT wants to sell which they want to badly they will..

      • superg05

        DT said they where no longer in a hurry to leave but will keep the exit open

        • spicymeatball

          They’ve been looking to cash out for long time. Regardless of what they are saying. If T-Mobile can continue to add 1-2 million subscribers per quarter they’re fine waiting that out. But over the years they’ve been slow to invest and quick to look for ways out. It is time for new investors who want to go the distance.

  • Nathaniel Ily Jacob-Joshua Hud

    Oprah should buy Tmobile!

    • Jeremiah McCurry

      YOU GET A PHONE AND YOU GET A PHONE EVERYBODY GETS A PHONE

    • Baxter DeBerry

      she wouldnt know what to do with it lol

      • Justin Merithew

        Oprah: “YOU GET UNLIMITED DATA, YOU GET UNLIMITED DATA. YOU GET UNLIMITED DATA! EVERYBODY GETS UNLIMITED DATA!!!!!!!”

  • http://rosarynovice.stblogs.com/ Augustine

    This would perhaps be a merger that both the FTC and the FCC would approve briskly.

  • zombiexm

    UPDATE: DT denied the offer Automatically.
    Bullcrap, This will just show the fcc that sprint/tmobile do not need to happen. End of story! This was the nail in the coffen Sprint,Softbank,DT you ARNT MERGING.

    • DirkDigg1er

      Don’t be mad. It was doomed from the start. DT is just going after the superior offer. I’d expect you to do the same.

      • Justin Merithew

        The superior offer that will very likely get blocked by regulators, but then again, that’s also a free couple billion for DT.

        • Baxter DeBerry

          hey the strategy worked with AT&T right? lol free money cant beat it :)

      • spicymeatball

        Unfortunately your right. I just want someone to buy that believes in their direction and doesn’t want to screw with it. DT just wants to cash out. they’ve played this hand a long time and want a return. It’s time for a new majority stakeholder as long as it’s not another US carrier.

      • Nearmsp

        Not if the likelihood of rejection is going to be very high on grounds of anti trust by FTC and FCC!

  • Guest

    According to the NY Times at 3:22 PM Eastern Time, the bid has been turned down by Deutsche Telekom!

    Source: http://dealbook.nytimes.com/2014/07/31/french-upstart-makes-offer-for-t-mobile-usa/?_php=true&_type=blogs&_r=0

  • maanshu

    I feel nothing will happen, wait and watch.

  • Eric

    Update: According to the NY Times at 3:22 PM ET, the bid was turned down by Deutsche Telekom!

    Source: http://dealbook.nytimes.com/2014/07/31/french-upstart-makes-offer-for-t-mobile-usa/?_php=true&_type=blogs&_r=0

  • guitarthrower

    “Deutsche Telekom of Germany, which is the majority owner of T-Mobile US, has already turned down the bid, according to a person briefed on the matter.” http:// dealbook.nytimes. com/2014/07/31/ french-upstart-makes-offer-for-t-mobile-usa /?_php=true&_type=blogs&_r=0

  • CG

    OH I am so over this merger business…At this point I could care less who gets T-Mobile. I am going to sit here and enjoy my service. As long as my plan is not changing I don’t care. If it happens to change I will deal with it then…Not the end of the world…No worries on my end

    • BillSmitty

      Bravo! Completely agree…I do wish I bought TMUS this AM before the buzz. HA.

      • Baxter DeBerry

        well now its rejected so …

    • schweddyballs

      So why are you reading a story on a potential merger?

    • Marc

      Great. Just deal with it when it’s too late. Fewer telco’s means less competition. Your bill and plan would most likely go up!

  • D Velasquez

    I’m alright with this but I wonder why not France Telecom? it would be cool to have Orange as a brand here, heck even Telenor!

  • Mirad77

    Offer rejected! Either Softbank is putting up ton of cash or DT is just hoping the deal will fail. Wish means breakup fees like with AT$T. Interesting……

    • sushimane

      if dt reject the deal with free im hopping the deal with sprint gets rejected as well lol.

  • conservative_motorcyclist

    WAAAAY Better than the Sprint deal!

  • taron19119

    Free was only paying 16 billion and Sprint is paying 32 billion I see y it was rejected

    • http://westnorth.com/ Payton Chung

      For 56.6% vs. 100% of the shares.

  • Dakota

    DT wants to create a bidding war

  • gadget_hero

    DT can’t be courting others publicly as SoftBank has very strict contingents on how that $1BN breakup fee works, but you have got to think DT is secretly loving the fact Iliad is jumping in, not to mention that if DT keeps a share which was part of the plan even with Sprint a beast mode T-Mobile could bring strong ROI to DT shareholders.

  • randian

    Just because the offer was rejected doesn’t mean Iliad is done. Further negotiation may be happening.

  • Nearmsp

    Legere’s personal ambition to be the CEO of a combined CEO of Sprint and T-mobile will be negatively impacted by an Iliad buy out. He will do his best to kill of the Iliad deal. The T-mobile board and Deutsche Telecom need to do its fiduciary duty. Legere’s statement that future growth can only come from “SCALE” clearly shows his bias to being CEO of a combined Sprint and T-mobile. When these two companies actually submit a proposal to FCC and FTC, that is the time to slam this deal. I will be posting links to public comment and also researched material why this deal should be rejected by regulatory bodies. I posted some 100 blogs and letters to the editor last time around. I am going to do likewise and shame FCC in to backing off. After all some political hacks also sit on that body.

    • PiCASSiMO

      Appreciate the efforts in killing the Sprint/T-Mobile deal…

  • Guest

    It’s kind of interesting that these late-comers, Illiad make a solid offer of $15 billion ($33.00/share) and for almost a year we’ve been hearing about SoftBank/Sprint wanting to merge with T-Mobile and we’re not hearing of any price at all. And, then, Deutsche Telekom turns Iliad’s offer down. What’s up with that?

    • TechHog

      You need to go back and read some articles. Let’s just say that this bid never stood a chance against Softbank’s.

  • Hiro

    What would be interesting is if the Sprint deal fails, T-Mobile getting that breakup fee, then in bought down the road by Iliad… I’d also love to see TMo take over a fiber & broadband company to begin laying its own fiber for its towers where it can, and offer up double and triple plays (high speed broadband internet, cable TV possibly.)

  • DirkDigg1er

    From a business standpoint, this was a great marketing tool before entering the US market. He may never had intended to buy Tmo after all.