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Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, August 06, 2014
Sprint Abandons T-Mobile bid, T-Mobile Rejects Iliad's Offer


Sprint has reportedly decided to abandon a bid for rival T-Mobile as the , tie-up would unlikely to win regulatory approval, the Wall Street Journal reported. Separately, T-Mobile is said to have already rejected the $15 billion offer of French Iliad for the company.

The Wall Street Journal said on Tuesday that Sprint gave up after officials from the US Justice Department and Federal Communications Commission indicated they would oppose a deal merging the number three carrier Sprint with number four T-Mobile.

In 2011, US regulators blocked AT&T's effort to buy T-Mobile, claiming it would be harmful to consumers and competition.

Earlier Tuesday, the Journal also reported that T-Mobile has refused talks with French telecom operator Iliad, declining to even allow access to financial information for a bid. Iliad made a $15 billion bid for a controlling stake in T-Mobile, seeking to merge the US operator.



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