France's Illiad bids for T-Mobile US: report

Shares in T-Mobile jumped Thursday on a report that French telecommunications firm Iliad is bidding to buy the US wireless service carrier.

T-Mobile US shares were up more than four percent to $32.24 in the wake of a Wall Street Journal report that Iliad weighed in a week ago with a counter to an offer made by US telecom company Sprint.

The Journal reported that Iliad's was crafted to give it control of T-Mobile but did not specify financial terms.

A deal for Sprint and T-Mobile to merge has been brewing for months, with one report saying terms valuing T-Mobile at more than $30 billion were being hammered out.

T-Mobile on Thursday announced that its revenue in the second quarter was up eight percent from the same period last year, and that it had gained about 1.5 million subscribers.


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© 2014 AFP

Citation: France's Illiad bids for T-Mobile US: report (2014, July 31) retrieved 27 October 2021 from https://phys.org/news/2014-07-france-illiad-t-mobile.html
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