NEW YORK (TheStreet) -- T-Mobile US (TMUS) 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.
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.