Deutsche Telekom rejected an offer from Iliad for its mobile business in the United States and said regulators there should help smaller players compete against bigger rivals if they are not allowed to merge.Deutsche Telekom makes about a third of its sales and a fifth of core profits in the United States, but believes its subsidiary T-Mobile US lacks critical mass, frequencies and capital to compete with leaders AT&T and Verizon.Its plan to sell T-Mobile US to local rival Sprint foundered on Wednesday, leaving Iliad - a much smaller French company with little experience of U.S. telecoms - as the remaining bidder although others could still emerge.Deutsche Telekom's Chief Executive Tim Hoettges made it clear that Iliad's $15 billion offer was not good enough and there was no need to rush into a sale, while leaving the door open to an eventual U.S. exit.
Shares of TMUS fell by 0.98% or $-0.305/share to $30.76. In the past year, the shares have traded as low as $22.95 and as high as $35.50. On average, 4372060 shares of TMUS exchange hands on a given day and today's volume is recorded at 852553.
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