DT willing to study Iliad offer for T-Mobile US; board members consider bid ‘too low’

5 Aug 2014

Deutsche Telekom’s board of directors is willing to examine French telco Iliad’s surprise USD15 billion offer for a 56.6% stake in T-Mobile US, Reuters reports, but the German company does not yet see a reason to walk away from pre-existing talks with earlier bidder Sprint Corp and its Japanese owner Softbank. That said, two board members who spoke to the news agency suggested that the USD33 per share offer was ‘too low’ compared to Sprint’s USD40 per share offer, despite the anticipated lack of regulatory hurdles. HSBC and BNP Paribas have agreed to bankroll Iliad’s deal.

United States, Deutsche Telekom (DT), Free, Iliad, T-Mobile US