French mobile and Internet firm Iliad has set a deadline of mid-October to either make an improved offer to take control of T-Mobile US or abandon its pursuit, according to a Reuters report.
France-based Iliad has reportedly given itself until the middle of October to decide whether to improve its bid for T-Mobile US or give up on efforts to buy the U.S. unit of Deutsche Telekom.
T-Mobile US would strike an M&A deal with another company only if they had U.S. spectrum, a U.S. customer base and offered "favorable financial terms," according to financial analysts.
Dish Network Chairman Charlie Ergen has told T-Mobile US parent Deutsche Telekom he is interested in a future deal for the carrier, according to a Bloomberg report. Ergen previously left the door open for a bid for T-Mobile after merger talks between T-Mobile and Sprint broke down last month.
T-Mobile US plans to raise new debt, most likely to fund purchases of spectrum in the forthcoming AWS-3 spectrum auction, which will begin in November.
French mobile and Internet firm Iliad is still open to working with other companies to improve its offer for T-Mobile US, but it is not saying which partners it is exploring its options with, according to comments from Iliad CFO Thomas Reynaud.
Iliad is continuing to explore different ways of improving its bid for T-Mobile US, with latest reports saying the France-based company is now in talks with private equity companies on a possible collaboration.
Bouygues Telecom reported a 29 per cent drop in core earnings in the first half of 2014, as the French operator continued to suffer from ongoing pricing adjustments on France's mobile telecoms market.
T-Mobile US parent Deutsche Telekom is willing to talk about a sale of the unit if it receives an offer that values the company at $35 per share or more, according to a Bloomberg report. However, Reuters reported that, according to an unnamed source, DT views an offer for T-Mobile at $35 a share as being "substantially too low," countering Bloomberg 's report.
Cox Communications has no plans to merge with or buy T-Mobile US, or rival MSOs for that matter, Cox President Pat Esser said. Reuters had recently reported that French mobile and Internet firm Iliad was working with Dish Network, Cox, Charter Communications and others to improve its $15 billion offer for 56.6 percent of T-Mobile, which T-Mobile has deemed too low.