Iliad has offered $15 billion in cash for 56.6% of T-Mobile, or $33 a share, according to The Wall Street Journal. Sprint and T-Mobile had agreed on broad strokes of a merger that would value T-Mobile at $30 billion and would combine the third-largest and fourth-largest U.S. wireless carriers, respectively.
T-Mobile said it received the offer but made no further comment, according to the Journal article.
The stock was down 6.31% to $7.27 at 3:03 p.m.S data by YCharts
TheStreet's Julia Sun has details on Sprint's Q2 results: