T-Mobile Says Iliad’s $15 Billion Bid Ignores Growth Prospects
2014-08-14 08:15:28.347 GMT
By Ville Heiskanen
Aug. 14 (Bloomberg) -- T-Mobile US Inc. regards Iliad SA’s
$15 billion bid for a majority stake in the company as too low
given its growth prospects, the U.S. wireless carrier’s finance
chief said.
Iliad’s proposal was “very inadequate,” T-Mobile Chief
Financial Officer Braxton Carter said yesterday at an investor
conference in Boston. “We believe today that we’re undervalued.
And we believe that our forward potential is significant.”
Iliad, based in Paris, is left as the only bidder for T-
Mobile after Sprint Corp. ended talks over buying the fourth-
largest U.S. mobile-phone company. Iliad, which last month
offered $15 billion in cash for 56.6 percent of Bellevue,
Washington-based T-Mobile, is seeking partners to help finance
its bid and allow it to make an offer for a larger stake, a
person familiar with the matter has said.
“Very rarely do people come with their best bid to
start,” Carter said.
Iliad shares fell 0.1 percent to 169.8 euros at 9:46 a.m.
in Paris. Deutsche Telekom AG, T-Mobile’s Bonn-based parent,
declined 1 percent to 11.22 euros in Frankfurt. T-Mobile
declined 1.6 percent to $29.14 yesterday in New York.
For Related News and Information:
Sprint Drops as T-Mobile Talks End, New CEO Claure Named
NSN N9WIYZ6JTSF5 <GO>
Iliad With Lower Risk Could Nab T-Mobile Underbidding Sprint NSN
N9N9EA6JTSEL <GO>
T-Mobile Pursuit Shows Allure of $195 Billion U.S. Mobile Market
NSN N9SZD96KLVRH <GO>
Top Technology Stories: TTOP <GO>
To contact the reporter on this story:
Ville Heiskanen in Helsinki at +358-9-2512-2682 or
vheiskanen@bloomberg.net
To contact the editors responsible for this story:
Kenneth Wong at +49-30-70010-6215 or
kwong11@bloomberg.net
Robert Valpuesta, Amy Thomson
2014-08-14 08:15:28.347 GMT
By Ville Heiskanen
Aug. 14 (Bloomberg) -- T-Mobile US Inc. regards Iliad SA’s
$15 billion bid for a majority stake in the company as too low
given its growth prospects, the U.S. wireless carrier’s finance
chief said.
Iliad’s proposal was “very inadequate,” T-Mobile Chief
Financial Officer Braxton Carter said yesterday at an investor
conference in Boston. “We believe today that we’re undervalued.
And we believe that our forward potential is significant.”
Iliad, based in Paris, is left as the only bidder for T-
Mobile after Sprint Corp. ended talks over buying the fourth-
largest U.S. mobile-phone company. Iliad, which last month
offered $15 billion in cash for 56.6 percent of Bellevue,
Washington-based T-Mobile, is seeking partners to help finance
its bid and allow it to make an offer for a larger stake, a
person familiar with the matter has said.
“Very rarely do people come with their best bid to
start,” Carter said.
Iliad shares fell 0.1 percent to 169.8 euros at 9:46 a.m.
in Paris. Deutsche Telekom AG, T-Mobile’s Bonn-based parent,
declined 1 percent to 11.22 euros in Frankfurt. T-Mobile
declined 1.6 percent to $29.14 yesterday in New York.
For Related News and Information:
Sprint Drops as T-Mobile Talks End, New CEO Claure Named
NSN N9WIYZ6JTSF5 <GO>
Iliad With Lower Risk Could Nab T-Mobile Underbidding Sprint NSN
N9N9EA6JTSEL <GO>
T-Mobile Pursuit Shows Allure of $195 Billion U.S. Mobile Market
NSN N9SZD96KLVRH <GO>
Top Technology Stories: TTOP <GO>
To contact the reporter on this story:
Ville Heiskanen in Helsinki at +358-9-2512-2682 or
vheiskanen@bloomberg.net
To contact the editors responsible for this story:
Kenneth Wong at +49-30-70010-6215 or
kwong11@bloomberg.net
Robert Valpuesta, Amy Thomson