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"French telecommunications company Iliad has confirmed (PDF) submission of a buyout offer to T-Mobile USA. The proposal includes $15 billion in cash ($33 per share) for a 56.6 percent stake\u00A0in the company, and then $40.5 per share for the remaining\u00A043.4 percent, based on $10 billion in potential cost savings.\r\nIliad\u2019s offer values T-Mobile shares at $36.20 on average. The company would use a mix\u00A0of debt and equity to finance the deal. T-Mobile\u2019s board of directors now has an opportunity to respond.\r\nMeanwhile, Sprint and its parent company SoftBank have reportedly been preparing their own $32 billion bid for T-Mobile. Iliad has a smaller market capitalization than T-Mobile, so the deal is something of a stretch. However, Iliad doesn't yet operate in the US, so that could give a better shot at getting regulatory approval for an acquisition.\r\nT-Mobile stock is up more than 6 percent on today\u2019s news.\r\n\u27A4 Iliad confirms its interest in T-Mobile US (h/t Business Insider)\r\nPhoto credit:\u00A0Andrew Burton/Getty Images"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/mobile/2014/07/31/french-telecom-iliad-makes-29-billion-offer-t-mobile-usa/>