Iliad is giving up on its futile attempts to purchase T-Mobile US
If you have never heard of Iliad before now, don’t worry – most people in the US haven’t. It’s a company that has taken the French mobile market by storm, slashing prices and creating real competition for the French people, and it’s a company that hoped to piggy back on T-Mobile’s recent actions that attempt to do the same thing. Unfortunately for Iliad, T-Mobile just didn’t think the partnership would work out – and thus Iliad has stopped try to court the US carrier.
Iliad first made an attempt at purchasing T-Mobile US shortly after the merger with Sprint and Softbank failed, initially attempting to get just under 57% of the company. It was rejected for being too low, and it reportedly tried again, this time offering $36 per share for 67% of the carrier. Apparently, T-Mobile wouldn’t even let Iliad plead its case the second time around:
The Iliad Group announces that it puts an end to its project of acquiring T-Mobile US, following exchanges with Deutsche Telekom and selected board members of T-Mobile US who have refused to entertain its new offer.
T-Mobile has made it clear that it will only entertain offers from companies that already have US spectrum and an existing customer base – both of which Iliad lack. It has also indicated that it doesn’t really need a merger anymore to be successful.
So far, it’s looking like Dish Network is the only remaining suitor that T-Mobile will consider, but we’ll keep our eyes open for other possibilities.
[Iliad via TMoNews]
