Iliad, a French company (which disappointingly has nothing to do with the Odyssey), has made a bid to purchase T-Mobile. The offer is $15 billion in cash for 56.6 percent of T-Mobile's U.S. operation. This is $33 per share. For the remaining 43.4 percent, Iliad values the shares at $40.50. That makes the overall value per share $36.20.
This bid comes only weeks after the Federal Trade Commission announced a lawsuit against T-Mobile for cramming phony charges into customers phone bills. While the FTC has not confirmed a dollar amount for the lawsuit, they mentioned on the press call that hundreds of millions of dollars are at stake. The FCC is also investigating T-Mobile at this time for the same issue. This also comes as T-Mobile and Sprint attempt a merger to the tune of $32 billion.
Iliad, a telecommunications company based in Paris, does not expect any antitrust issues, offering this statement, "This transaction should not raise any antitrust issue in light of the competition rules given that Iliad is not present in the United States." That is, of course, if T-Mobile accepts the bid.
Since the offer became public, T-Mobile is up almost six percent:
The purchase offer was not written in dactylic hexameter. We checked.
This article is from the archive of our partner The Wire.