| Updated:
T-Mobile cuts off Iliad’s bid
TELECOMS giant T-Mobile US yesterday rejected a $15.5bn (£9.2bn) bid by French rival Iliad, saying it was not high enough.
Iliad made its surprise proposal for 56.6 per cent of T-Mobile last week and sought access to its confidential financial information to conduct due diligence.
Sources told the Wall Street Journal that the bid was “dead on arrival” because it was too low and that there was “no meaningful dialogue” between the companies.