French telecoms operator Iliad SA has recently made a takeover approach for T-Mobile US Inc, according to a person familiar with the matter, a surprise bid that counters an existing takeover bid by Sprint Corp.It was not immediately clear how Iliad, which has a market capitalization of just above $16 billion, would finance a deal for the fourth-largest U.S. wireless operator, which has a market value of about $25 billion.The person asked not to be named because the matter is not public.Representatives for Iliad and T-Mobile did not respond to requests for comment on the news, which was earlier reported by the Wall Street Journal.
Shares of TMUS traded higher by 5.66% or $1.7499/share to $32.69. 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 18378976.
Source
