France’s Iliad is reportedly set to make at least one more run at acquiring a stake in U.S. operator T-Mobile US, though published reports indicate that the offer could fall on deaf ears.
Bloomberg is reporting that Iliad is set to throw out another offer to acquire a stake in T-Mobile US for $33 per share, but with the kicker that it plans to acquire a larger stake than previously offered up at that same price. The report noted that T-Mobile US parent company Deutsche Telekom remains in “regular, informal” contact with Iliad, but has not decided whether the altered offer is worth considering.
DT has previously turned down an offer from Iliad at the $33 per share level, noting that it was looking at garnering at least $35 per share for a controlling stake in T-Mobile US. However, DT’s ability to leverage a higher stake has been diminished following the decision by Softbank and Sprint to not put in an offer for the domestic market’s No. 4 carrier. Reports have also noted that DT was in talks with Dish Network about a possible partnership surrounding T-Mobile US.
DT looked to further ratchet up the pressure by announcing late last week that it was reportedly looking to maintain its current stake in T-Mobile US for at least another year as the U.S. market partakes in a pair of scheduled spectrum auctions. T-Mobile US has been very vocal in petitioning the Federal Communications Commission on rulemaking for the upcoming spectrum auctions. The carrier has been the fastest growing U.S. wireless carrier over the past year, and has more recently become a strong boost to DT’s operations.
Iliad has reportedly set a mid-October deadline to decide whether to put in the larger offer for a stake in T-Mobile US. The latest report suggests that Iliad has found additional backers to acquire a larger stake in T-Mobile US, and that current T-Mobile US leadership is beginning to tire of the uncertainty.
“T-Mobile [CEO] John Legere said last night that he’s ‘sick and tired’ of the speculation about the fate of his company. In a profanity-laced tirade, Legere said his employees still have post-traumatic stress disorder from AT&T’s failed attempt to buy the wireless carrier,” the Bloomberg story states.
Bored? Why not follow me on Twitter
