French low-cost telecommunications company Iliad SA confirmed on Thursday it had made a takeover offer for T-Mobile US Inc , rivaling an existing takeover offer from Sprint Corp .Confirming reports from earlier in the day it said in a statement it had offered $15 billion in cash for 56.6 percent of T-Mobile US at $33 per share.Iliad said it valued the rest of T-Mobile, the fourth-largest U.S. carrier and owned by Deutsche Telekom , at $40.50 per share and expects $10 billion of cost savings.Iliad, whose bid is backed by its billionaire founder Xavier Niel, said the proposed deal amounted to a premium of 42 percent premium over T-Mobile's share price before the announcement.
Shares of TMUS traded higher by 6.46% or $2.0/share to $32.94. In the past year, the shares have traded as low as $22.95 and as high as $35.50. On average, 3769450 shares of TMUS exchange hands on a given day and today's volume is recorded at 29254316.
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