Reginal Thomas
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Iliad Group Backs Out Of T-Mobile Acquisition Offer

Illiad, the French low cost telecoms operator, has abandoned its attempt to acquire T-Mobile US. The deal fell through mostly because of resistance from majority owner, Deutsche Telekom. A mid-October deadline was decided on whether or not to improve its $33 a share bid for a 56.6% stake in T-Mobile. In a statement Iliad said, "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."