France’s Iliad Drops Plan to Acquire T-Mobile US
Iliad Says Deutsche Telekom, Some T-Mobile Directors Gave New Offer Thumbs Down
PARIS—Iliad said Monday that it has dropped plans to acquire a controlling stake in T-Mobile US Inc. from Deutsche Telekom AG, ending a four-month pursuit that would have thrust the French telecommunications company onto the North American market.
Iliad—whose first offer for 56.6% of T-Mobile had been rejected in July—said a sweetened bid for 67% of the cellphone operator also failed to pique the interest of Deutsche Telekom and some of the unit’s board members.
The latest offer values T-Mobile shares at $36 apiece, including cash and part of the future value creation, Iliad said in a statement.