NEW YORK (TheStreet) -- T-Mobile US (TMUS - Get Report) plans to turn down Iliad's $15 billion deal proposal, sources told Bloomberg, putting pressure on the French telecommunications company to increase its offer.
Iliad said on July 31 it offered $15 billion in cash for 56.6% of T-Mobile.
Sprint S, controlled by Softbank (SFTBF), has been preparing an offer worth about $40 a share, sources said, Bloomberg noted.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. Deutsche Telekom (DTEGY), with a 67% share of percent of T-Mobile, considered Iliad's initial bid as inferior to Sprint's, sources previously said. The German carrier's management would consider missing out on a higher price if that meant avoiding the uncertainty of a prolonged antitrust review, sources said, according to Bloomberg.. Shares of T-Mobile US are flat in afternoon trading. TMUS data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.