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. T-Mobile also denied Iliad's request to open its books, which would have been necessary for Iliad to conduct due diligence on T-Mobile. Iliad's bid came as a surprise. The company fills a similar role to that of T-Mobile as a competitive game-changer in its home market of France. Another source cited by the Journal said Iliad is considering its next steps, though it is unclear what those steps might be. Had T-Mobile taken Iliad's offer seriously, it would have thrown a wrench into Sprint's long-term plans to acquire T-Mobile.
I thought DT wanted out of the U.S. market? They apparently feel really good about themselves because they have to know there is not a snow ball's chance of Sprint being allowed to buy them out. Therefore this offer must be extremely insulting to them or they actually believe they can thrive in the U.S. Or are they hoping for another poison pill deal like they received from AT&T when their acquisition fell through.
Somehow I doubt they've done their due diligence and agreed to a huge breakup fee because there's "not a snowballs chance in hell".If you think any corporate merger "deal" in America doesn't have a snowballs chance, you haven't lived in america long e... (continues)