Telecoms group Iliad has lined up BNP Paribas and HSBC to finance its bid for T-Mobile US, people familiar with the matter said, as it pursues a deal that could overturn expectations of industry consolidation in both the United States and France.Shares in Paris-based Iliad dropped as much as 13 percent on Friday, as analysts questioned the wisdom and cost of its surprise $15 billion offer for 56.6 percent of T-Mobile US , the No.4 U.S. mobile operator.Shares in rival French companies Bouygues and Orange also fell on speculation that Iliad's interest in a U.S. deal meant it might not seek a tie-up at home that could ease competition in a cut-throat market."The offer may even not be meant absolutely seriously," said Frank Heise, fund manager at Metzler Asset Management and an owner of Iliad shares. "Iliad wants to exert pressure on the players in France. It wants to show Orange and Bouygues that it can go it alone and does not necessarily need them."
Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN fell by 3.77% or $-0.61/share to $15.56. In the past year, the shares have traded as low as $9.61 and as high as $17.43. On average, 645372 shares of ORAN exchange hands on a given day and today's volume is recorded at 7902.
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, 4138450 shares of TMUS exchange hands on a given day and today's volume is recorded at 16086.
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