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Iliad drops plans to acquire T-Mobile US after 2nd refusal

2014-10-14 08:49:00| Telecompaper Headlines

(Telecompaper) French telecom group Iliad announced that it has abandoned its project of acquire T-Mobile US from Deutsche Telekom, after the latter's board refused to entertain a new offer. In July Iliad offered to buy 56.6 percent of T-Mobile US for EUR 33 a share, an offer that was rejected. The French company then formed a consortium with two private equity funds and sweetened its offer to 67 percent for around USD 36 per share, including cash and ifs share of value creation. Iliad writes that it sought to accelerate T-Mobile US's transformation, notably by saving over USD 2 billion in annual costs. The French group plans to continue its profitable growth policy as has been conducted over the last 15 years in the interest of its subscribers, employees and shareholders.

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Category:Telecommunications

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