French telco Iliad faces fresh hurdles in its ambitious plan to buy T-Mobile US, as its search for extra financing lingers on, Bloomberg reports. According to people familiar with the matter, talks between Paris-based Iliad and potential partners, including buyout firm KKR & Co, have yet to result in a higher bid. At the same time, DT board members are split over whether the German company should sell the fast-improving asset, which recently claimed 2.75 million net subscriber adds in the month of August alone. Meanwhile, according to a separate report from Reuters, Iliad has set a mid-October deadline to decide whether to improve its bid for T-Mobile US or simply walk away from the projected deal.
As previously reported by TeleGeography’s CommsUpdate, last month DT rejected Iliad’s USD15 billion cash bid – or USD33 a share – for a controlling stake in the US cellco. The German firm subsequently disclosed that it was willing to negotiate a possible sale if an offer comes in the range of USD35 to USD40 a share.