Iliad SA offers $15 billion for T-Mobile Stake
French telecom startup Iliad SA has offered $15 billion for controlling stake in T-Mobile US. The latest move by the French telecom company could derail the plans of Japan-based Softbank to acquire majority stake in fourth largest telecom company in United States.
Softbank controlled US carrier Sprint was in talks with T-Mobile to get controlling stake in the company. Sprint offered $40 per share for the majority stake in the telecom company controlled by Germany's Deutsche Telekom.
Deutsche Telekom owns 65 percent stake in T-Mobile. The company aims to offload its stake in the fourth largest US carrier. The entry of the French telecom company could increase the price for T-Mobile stake. Though the price offered by Iliad is significantly lower at $33 per share compared to Sprint's offer of $40 per share.
The stock price of T-Mobile jumped after the news while the stock of Sprint suffered minor loss. T-Mobile also announced impressive increase in the number of subscribers. The company reported improved revenue and the highest subscriber growth in the US market.
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