France's Iliad Confirms Offer For T-Mobile, Shares Spike

France’s Iliad has confirmed that it has made an offer for T-Mobile.

Iliad said in a release that its offer values T-Mobile at $US36.20 per share.

The company said it has offered $US15 billion for 56.6% of T-Mobile at $US33 per share, and values the remaining 43.4% of the company at $US40.50 per share.

In its release, Iliad said that, “This transaction should not raise any antitrust issue in light of the competition rules given that Iliad is not present in the United States.”

Earlier, T-Mobile spiked higher after The Wall Street Journal reported that it received a buyout offer from France’s Iliad.

The Journal’s report said the offer from Iliad was made less than a week ago, but said it was unclear what response T-Mobile’s board has had to the offer.

T-Mobile shares were up 5% after the report, while shares of Sprint were down about 3%.

Sprint and T-Mobile have long been seeking a merger, and in early June it was reported that company’s were “close” to a deal that would have seen Sprint acquire T-Mobile for $US32 billion.

Earlier today, T-Mobile reported second quarter revenue grew 8% over the prior year, with the carrier reporting 1.5 million net customer additions in Q2.

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