NEW YORK (TheStreet) -- Shares of T-Mobile US Inc. (TMUS) closed down -1.59% to $29.14 after company CFO Braxton Carter called a $15 billion takeover offer from French wireless company Iliad "inadequate," but hinted it may be open to a higher offer, the Wall Street Journal reports.
At an investor conference, Carter said that Iliad's offer last month 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 (S), yielded to regulatory pressure in abandoning its pursuit, the Journal noted.
TheStreet Ratings team rates T-MOBILE US INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate T-MOBILE US INC (TMUS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, robust revenue growth and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."