French telecommunications giant Iliad is reportedly looking to acquire a majority stake in US-based T-Mobile despite news that Sprint is seeking a merger with the wireless company.
Iliad, France’s fourth-place wireless operator, confirmed Thursday that it submitted a bid worth $15 billion to acquire the T-Mobile shares. According to reports, T-Mobile is about 60 percent larger than Iliad.
Iliad’s announcement comes as Sprint parent company SoftBank was reported to be putting the breaks on its planned acquisition of T-Mobile. Now that financial details of the proposed acquisition between SoftBank’s Sprint and Deutsche Telekom’s T-Mobile are public, reports say, SoftBank has less pressure to formally submit a bit for the company. Unnamed sources said a formal acquisition filing would not likely be made until September.
Earlier reports said that Sprint would pay $32 billion to acquire T-Mobile and has additionally agreed to a $2 billion breakup fee should regulators block the transaction.
Both the Federal Communications Commission and the Department of Justice must approve of the transaction.
According to reports, Deutsche Telekom did not appear to be keen on the idea that its T-Mobile unit would be acquired by Iliad. One source said T-Mobile had already rejected the offer.
It is unclear whether Sprint’s decision to not rush a formal bid was affected by Iliad’s reported interest in T-Mobile.
Full content: Biz Journals and Tech Crunch
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI