Remember how French telecom Iliad SA was interested in buying T-Mobile? Apparently its interest has run dry, as Iliad has announced that it’s ending its effort to acquire T-Mobile.
In an announcement posted to its website, Iliad says that it recently made a new offer of $36 per share in an effort to acquire a 67 percent share of T-Mobile US. However, this bid was shot down, just like Iliad’s original bid to acquire 56.6 percent of T-Mobile US.
Iliad goes on to say that it had planned to save T-Mobile more than $2 billion annually and that its acquisition “would create significant value” for Iliad and T-Mobile US shareholders.
Iliad’s retreat makes it the second company to abandon T-Mobile US acquisition efforts, following Sprint earlier this year. It seems that the two companies backed off for different reasons — Sprint’s reasoning was likely regulatory while Iliad’s was just getting its offers denied — but that doesn’t change the fact that T-Mobile US and Deutsche Telekom, T-Mo’s parent company, have spurned two suitors in 2014. Of course, considering how well T-Mobile’s been doing in the US lately, that may not be such a bad thing.
Do you think that anyone will ever acquire T-Mobile US or will it continue being under DT’s watch for the foreseeable future?