Iliad remains keen on T-Mobile, continues to seek bidding allies
Iliad, the French telco, remains intent on bidding for Deutsche Telekom’s T-Mobile US unit, according to the Journal du Dimanche. Iliad owner Xavier Niel has been in the United States for the past fortnight and according to sources close to the company, contact has been made with would-be partners.
The French language weekly said the group needs an ally willing to pony up EUR 6bn to make good on the offer for the Bellevue, Washington-entity. The additional funds would allow the buyers to secure up to 90% of the US player as DT wishes to drop its stake to 10% or less. Among the names mooted is that of Englewood Colorado-based satellite group Dish Network Corp, the JDD said without specific sourcing. It also referred to unidentified US media outlets' suggestions that Iliad is wooing investment funds.
In a separate feature on Niel himself and his ambitions, the JDD noted he is keen to sow oats in a diverse range of business areas. One area where he has no presence is online banking, that piece said. It quoted a onetime business rival who suggested the Free mobile telephone service would prove an excellent platform from which to move into internet banking.
It was revealed late last week that Sprint was pulling out of the bidding for T-Mobile. On Thursday 7 August, DT noted that Iliad’s USD 33 per share proposal does not add value for the company’s shareholders. The French proposal tallies up to about USD 15bn and today’s JDD suggested the German vendor is seeking a further EUR 2bn (USD 2.68bn).
Source Journal du Dimanche (France)