Reginal Thomas
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Illiad Is Giving Itself Until Mid-October To Decide On Weather Or Not To Raise Its Bid for T-Mobile

Illiad, the French telecom operator has set a October deadline on weather it will decide to up its bid to buy T-Mobile US or walk away from the deal as it faces resistance from Deutsche Telekom, who is looking to sell T-Mobile. Deutsche Telekom owns a 66% stake in the fourth largest U.S. carrier. It has its doubts about selling to Illiad because for one the company has no track record in America. 

Under the proposed deal by Illiad, Deutsche Telekom would retain a stake in the combined company. Illiad is in talks with several U.S. banks to help finance a possible increase in its current bid for T-Mobile U.S., after its first offer of $33 per share for 56.6% of T-Mobile U.S. was rejected.