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US: T-Mobile remains in limbo as Iliad takeover on the rocks

By  |  September 21, 2014

Iliad’s plans to acquire T-Mobile could falter as the French company is still looking for financing for the deal, according to unnamed sources.

The sources added that a takeover could implode as T-Mobile parent company Deutsch Telekom reconsiders what it wants to do with the company after its plans to merge with Sprint folded earlier this year.

Since the deal with Sprint imploded, Iliad swooped in and has been reported to be seeking partnership with KKR & Co, among others, to submit a takeover bid.

But sources say that Deutsche Telekom’s board of directors is split over whether it should really sell T-Mobile, as the wireless company is its only growing asset, reports say.

Iliad is considering an offer of up to $20 billion, $5 billion higher than its earlier bid that was rejected by Deutsche Telekom last month.

Full content: Bloomberg

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