Oct 13, 2014 3:03 PM

France's Iliad drops T-Mobile US bid

The Associated Press

NEW YORK (AP) French telecom company Iliad SA says it has dropped its bid to buy a majority stake in wireless carrier T-Mobile US.

Iliad, which is smaller than T-Mobile, made a surprise offer of $15 billion for a 57 percent stake in T-Mobile in July. At the time, Sprint Corp. was also interested in buying T-Mobile, but Sprint later dropped its pursuit after concluding it would have been too difficult to convince regulators to approve the deal.

Iliad said Monday that it dropped its bid after Deutsche Telekom, which owns 67 percent of T-Mobile, and board members of T-Mobile, declined to entertain a new offer. It was offering about $36 per share for 67 percent of T-Mobile US, up from $33 per share for a 57 percent stake.

T-Mobile could not immediately be reached for comment.


--  Dealing with the Disease of Addiction? Click here for help --

More from NH1.com

NH1 News Debates
NH1 News Replay

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome