For all the surprise that has greeted French telecom group Iliad's bid for T-Mobile US, there is one thing a procession of broadband and mobile firms have learnt in recent years: don't underestimate Xaviel Niel.The 47-year-old, one-time computer hacker built up Iliad as France sought to open its telecom market in the early 2000s with a mantra of rock bottom prices and simple offers. It is now a $16 billion business that has grabbed 13 percent of France's mobile market in little more than two years, leaving rivals issuing profit warnings and seeking merger deals in its wake.On Thursday, Iliad - which has long been tipped to strike a deal to bolster its No.4 position in French mobile - surprised investors with a $15 billion offer for 56.6 percent of T-Mobile US, the No. 4 U.S. mobile operator.The move pits Niel against Sprint, the No.3 U.S. mobile firm owned by Japan's Softbank that has also bid for T-Mobile US.
Shares of TMUS traded higher by 1.46% or $0.48/share to $33.42. In the past year, the shares have traded as low as $22.95 and as high as $35.50. On average, 4112610 shares of TMUS exchange hands on a given day and today's volume is recorded at 8671544.
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