clock menu more-arrow no yes mobile

Filed under:

France's Iliad Abandons Efforts to Buy T-Mobile US

Iliad said it was willing to up its bid to $36 a share, but even the raised bid garnered little interest from Deutsche Telekom or T-Mobile US board members.

French carrier Iliad said Monday it is giving up on plans to acquire T-Mobile US, following discussions with majority owner Deutsche Telekom and the T-Mobile US board.

“The Iliad Group announces that it puts an end to its project of acquiring T-Mobile US, following exchanges with Deutsche Telekom and selected board members of T-Mobile US who have refused to entertain its new offer,” Iliad said in a statement.

Iliad announced its initial bid for T-Mobile US in July. It had planned to up its bid to roughly $36 per share, but neither Deutsche Telekom or the T-Mobile US board appeared interested.

Iliad said it could have saved $2 billion in annual costs through a merger.

(If the name Iliad still doesn’t ring a bell, check out this story.)

This article originally appeared on Recode.net.

Sign up for the newsletter Sign up for Vox Recommends

Get curated picks of the best Vox journalism to read, watch, and listen to every week, from our editors.