French Firm Makes Surprise Bid for T-Mobile
Iliad, a telecom business based in France, has made an unsolicited offer to purchase T-Mobile U.S. The company submitted the offer to T-Mobile's board within the last week. It is offering $15 billion in cash for a controlling 56.6% stake in the company. Iliad's role in the French mobile market is similar to T-Mobile's in the U.S. market. It sees T-Mobile as a natural fit and a way to break into the U.S. market. "The U.S. mobile market is vast and attractive," said Iliad in a statement. "T-Mobile has successfully established itself in the market by positioning itself, in many respects, in a similar way to Iliad in France." Iliad's offer complicates Sprint's interest in T-Mobile. Sprint and T-Mobile are believed to have agreed to the broad strokes of an acquisition, but are still hammering out details. Sprint has not made a formal offer for T-Mobile, but may have to accelerate its plans with Iliad's offer now on the table. T-Mobile has not commented publicly on Iliad's offer, but it did report second quarter earnings today. T-Mobile added 1.5 million new customers this quarter and has expanded the availability of VoLTE nationwide as of today.
Alcatel Announces the Idol 5S with Stereo Speakers
Alcatel today marked the debut of the Idol 5S, the latest in its flagship series. Like its predecessors, the 5S features an aluminum frame, curved glass front and rear surfaces, powerful stereo speakers, and a rear-mounted fingerprint reader.
T-Mobile Said to Reject Iliad Buyout Offer
T-Mobile has rejected Iliad's initial offer to buy the company, reports the Wall Street Journal . The $15 billion bid for a 56.6% stake in the company was "not attractive enough" and "dead on arrival" according to a source cited by the Journal .
Iliad Bails on Attempt to Acquire T-Mobile
Iliad today said it will no longer pursue an acquisition of T-Mobile U.S. The company first floated an offer for the company in late July.
LG to Shuffle Mobile Execs, Verizon Intros G5 Bogo
LG plans to shake up the executive ranks within its mobile phone business. The move comes on the heels of LG's first quarter report, in which the company's mobile phone business recorded its third straight loss.
Good news that makes sense
French company buying out German one...ummm yeah