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. 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.
Foxconn Makes a Play for Sharp
Foxconn has offered to buy Sharp for $5.3 billion, reports the Wall Street Journal. Foxconn's offer arrives just as Sharp is weighing a buyout offer from Innovation Network Corporation of Japan.
T-Mobile Hopes to Woo Sprint With a New Tune
T-Mobile has approached Sprint with a new proposal, reports the Wall Street Journal, in an attempt to keep the potential merger of the two companies alive. Talks failed earlier this week when Masayoshi Son, CEO of Sprint parent SoftBank, appeared to walk away from the deal over a disagreement concerning which company would own the other.
Twitter May Push Tweet Character Limit to 10,000
Twitter is planning to expand the scale of tweets far beyond the traditional 140-character limit, reports the Wall Street Journal. The company might permit regular tweets to reach 10,000 characters, which would match the current limit on the number of characters allowed within direct messages.
Avago Technologies May Buy Broadcom
Avago Technologies is in advanced talks to acquire Broadcom, reports the Wall Street Journal. Terms of the deal are not yet available, and the Journal's sources say the deal may not be signed.