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

Tuesday 14 October 2014 | 08:49 CET | News
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

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Categories: Mobile & Wireless
Companies: Deutsche Telekom / Iliad / T-Mobile US
Countries: United States
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