Iliad offered to pay $15 billion in cash for the 56.6% stake as a price of $33 a share. The company values the remaining T-Mobile stock at $40.50 a share. The offer is counter to any bid that Sprint (S) was preparing to make for the carrier.
Iliad views its T-Mobile bid as a "one-time opportunity to enter the world's-largest telecoms market," a source told The Wall Street Journal.
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