Iliad ends its bid to acquire T-Mobile US
French telecom Iliad has decided to end its efforts to acquire T-Mobile, announcing today that parent company Deutsche Telekom and members of T-Mobile's board "have refused to entertain its new Offer."
Illad had first announced plans to offer $15 billion in cash for 56.6 percent of T-Mobile in July, which was quickly refused by the company. Illad announced earlier in October a plan to increase its offer, which would have seen it take a 67 percent stake in T-Mobile at $36 a share.
Today, Illad said:
So far, T-Mobile has yet to respond to Illad's decision. What do you think of Illad bowing out of their plans?
Source: Illad via MC Cobb on Twitter
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I have been writing professionally about technology and gaming news for 14 years.