T-Mobile US Inc.'s chief financial officer called a $15 billion
takeover proposal from French wireless company Iliad SA
"inadequate" Wednesday, but hinted it may be open to a higher
offer.
Braxton Carter, CFO of the fourth largest U.S. carrier by
subscribers, said at an investor conference that Iliad's late-July
offer to buy 57% of the company was "very flattering" but "a very
inadequate value proposition."
But, he added, "I think rarely people come with their best bid
to start."
Iliad has said that it didn't see a need to boost the bid after
T-Mobile's longtime suitor, Sprint Corp., yielded to regulatory
pressure in abandoning its pursuit.
Last week, Deutsche Telekom AG Chief Executive Timotheus Höttges
said he is open to selling T-Mobile at the right price, but has "no
offer on the table which increases value more than what we're
developing organically." The German carrier is T-Mobile's former
parent and still owns 67% of the company.
On Wednesday, Mr. Carter called Iliad founder Xavier Niel a
"very impressive entrepreneur."
Write to Thomas Gryta at thomas.gryta@wsj.com
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