A $15 billion bid by French telecom company Iliad SA to purchase a 56.6 percent stake in T-Mobile US Inc. has been rejected by the wireless carrier’s parent company, Deutsche Telekom. The German parent company reportedly viewed Iliad’s bid as inferior to a rival bid being worked out by Overland Park, Kan.-based Sprint and its parent company, Tokyo-based SoftBank. That offer is believed to be worth about $32 billion, or $40 per share.
Other reported terms of the proposed Sprint bid include T-Mobile CEO John Legere replacing current Sprint CEO Dan Hesse as the company’s chief executive.
Although Deutsche Telekom prefers the potential Sprint bid, the deal would be viewed less favorably by U.S. regulators, who figure to raise antitrust concerns over the merger of the country’s No. 3 (Sprint) and No. 4 (T-Mobile) wireless carriers.