Tomahawk, WI 08/01/2014 (Basicsmedia) –T-Mobile US Inc (NYSE:TMUS), the fourth largest telecom carrier in the U.S., received a bid for a French telecom upstart that is seeking to gain majority control of the company. CNBC‘s Morgan Brennan reported the confirmation from the company about the offer. The French telecom company, Iliad, has put forward an all-cash proposal that values each share of T-Mobile at $33.
“We are getting confirmation from the company that they did receive an offer – a proposal from a French telecom firm Iliad. But T-Mobile said it had no further comment at this time,” she reported no the offer that could complicate matters because Sprint Corporation (NYSE:S) is also interested in a union with T-Mobile US Inc (NYSE:TMUS).
Talking about T-Mobile-Sprint talks, the No. 3 and No. 4 operators have been dancing toward a $32 billion tie-up deal that could reduce the number of major carriers in the U.S. to just three. They have been touting their merger as the answer to the dominance of AT&T Inc (NYSE:T) and Verizon Communication Inc (NYSE:VZ) in the U.S. telecom industry.
However, for a deal to go through, T-Mobile US Inc (NYSE:TMUS) and Sprint have to convince the U.S. regulators that their merger will not result in reduced choices for consumers or competition in the industry.
In its bid for T-Mobile US Inc (NYSE:TMUS), Iliad appears interested in the U.S. telecom market, and T-Mobile appears to be an interesting suitor for it to enter the market. Brennan reported that Iliad had too confirmed their placement of a bid for T-Mobile.
“The telecom firm Iliad confirmed it has put in an offer for a majority stake of T-Mobile US valued at $15 billion all cash or 33 dollars a share,” she reported.
Although Iliad is pursuing majority stake in T-Mobile US Inc (NYSE:TMUS), it is much smaller in that T-Mobile is nearly 60 percent bigger that it in terms of market value. Iliad is owned by French billionaire Xavier Niel, whose is also the owner of Le Monde newspaper.