French telecommunications firm Iliad has decided to end its quest to buy T-Mobile. Iliad has often been compared to T-Mobile in France, and its bid to buy 56.6% of the U.S. carrier for $15 billion was a complete surprise. At the time, T-Mobile was expecting a bid from Sprint. Iliad's bid, coming at the end of July, forced Sprint to abandon its pursuit of T-Mobile, and led to the removal of long time CEO Dan Hesse.Iliad was seeking partners to make a stronger bid, and earlier this month it put together a consortium consisting of itself, two private equity firms, and some banks. This group ...
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