French company beats Sprint to bid in T-Mobile pursuit

A Sprint store in Springfield, Mo. | Nicole Lunger/Missouri Business Alert
Sprint now faces a challenge from Iliad SA in its pursuit of T-Mobile US. | Nicole Lunger/Missouri Business Alert

French telecom company Iliad SA has offered $15 billion in cash, or $33 a share, for a 56.6 percent stake in T-Mobile US Inc. The move could undermine months of work by Overland Park, Kan.-based Sprint and Bellevue, Wash.-based T-Mobile to combine forces to create a stronger No. 3 U.S. wireless carrier.

Iliad’s offer is $7 per share less than the one Sprint reportedly plans to make for T-Mobile, but the French company has an advantage over Sprint: U.S. regulators have been hesitant to let two wireless companies combine, and since Iliad has no U.S. operations, its purchase of T-Mobile would maintain four big U.S. carriers.

Read more from the Kansas City Business Journal and the Kansas City Star

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