A PYMNTS Company

US: T-Mobile escapes a takeover

 |  October 13, 2014

Fourth-place US wireless operator T-Mobile has seemingly escaped a takeover.

According to reports, France’s Iliad has abandoned plans to acquire the company after T-Mobile parent company Deutsche Telekom refused to discuss a renewed offer. Deutsche Telekom turned down a bid last July and, while Iliad increased the offer to $36 per share, Deutsche Telekom reportedly declined to consider.

Iliad had been after a 67 percent stake in T-Mobile following T-Mobile rival Sprint’s decision to abandon its own merger plans. Before that, AT&T had attempted to acquire the company, but was shut down by authorities.

According to reports, Deutsche Telekom has long sought to leave its stake in T-Mobile. Reports did not indicate why Deutsche Telekom refused to consider a revised takeover bid or whether it is looking at other possible acquirers for T-Mobile.

Full content: Oregon Live

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.