Deutsche Telekom has started looking for an alternative buyer for T-Mobile US after France's Iliad abandoned its efforts to purchase the business earlier this month, a German magazine reported on Thursday. Monthly Manager Magazin cited people familiar with the company as saying Deutsche Telekom was looking at possible buyers who were not direct competitors to T-Mobile US, citing Mexico's America Movil as a possibility.Deutsche Telekom, which owns close to 67 percent of T-Mobile US, failed to comment on the report but said it was not under pressure to make a deal. America Movil was not immediately available for comment.Deutsche Telekom had hoped to reduce its exposure to T-Mobile US, the fourth-largest U.S. carrier, before next year's scheduled auction of radio waves.Iliad abandoned its attempt to buy the company because of resistance from Deutsche Telekom, becoming the third bidder to walk away from the carrier in three years.
Shares of TMUS traded higher by 2.33% or $0.63/share to $27.68. In the past year, the shares have traded as low as $24.50 and as high as $35.50. On average, 5372880 shares of TMUS exchange hands on a given day and today's volume is recorded at 859579.
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