Iliad Bails on Attempt to Acquire T-Mobile
Oct 13, 2014, 12:26 PM by Eric M. Zeman
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. It proposed to acquire 56% of the company, but T-Mobile's majority owner Deutsche Telekom rejected the bid. Iliad later put together more resources with the help of financiers and proposed to acquire 67% of the company for $36 per share. Iliad arrived at today's decision "following exchanges with Deutsche Telekom and selected board members of T-Mobile US who have refused to entertain its new offer." Deutsche Telekom has long sought to rid itself of T-Mobile, but has yet to successfully sell the company. Iliad believed acquiring T-Mobile would have helped the combined entities realize $2 billion in annual cost savings, as well as given Iliad a toehold in the U.S. market.
source: Iliad
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Comments
Now Just Where Have I Seen This Before?
I guess TMO saves their subscribers money by screwing other companies instead of their customers.
Can't say I disagree with this..
TMO you dirty little corporate tease you.
T-Mobil...
(continues)