Au Revoir T-MobileComments Off on Au Revoir T-Mobile
Yesterday, Illiad announced that it has dropped plans to acquire a controlling stake in T-Mobile from Deutsche Telekom AG, The Wall Street Journal reported. This ends the four-month pursuit that would have brought the French telecommunications company into the North American market. Illiad’s first offer for 56.6% of T-Mobile, paying $33 per share, was rejected in July as it didn’t interest executives over at Deutsche Telekom. Illiad’s latest offer values T-Mobile shares at $36 apiece, including cash and part of the future value creation, which still didn’t appeal to Deutsche Telekom execs. T-Mobile has really turned the company around under CEO John Legere, but the company’s growth will plateau without the spectrum and scale that a merger would allow. Continue reading here.