French carrier Iliad gives up on plans to acquire T-Mobile

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French carrier Iliad was believed to be in talks to acquire T-Mobile USA. However, a new report is now suggesting that Iliad has officially backed out of its plans to strike a deal with T-Mobile. According to the press release posted by the French telecommunications giant, Deutsche Telekom (parent company of T-Mobile) wasn’t all that pleased with the offers made by the carrier.

It is believed that the bids from Iliad were never really taken seriously by Deutsche Telekom or T-Mobile. And now, T-Mobile has reportedly refused to consider any future bids from the carrier, thus closing the doors for any possibility of an acquisition.

Perhaps Iliad’s plan to cut down costs by $2 billion post the acquisition didn’t come off as a positive sign for T-Mobile and Deutsche Telekom. T-Mobile is currently very popular in the U.S. despite being the fourth place network for quite some time. Its cost effective plans have seen a large number of customers migrate from rival networks. In many ways, fans should be relieved that this deal with Iliad didn’t go through as it could have possibly put the brakes on T-Mobile’s great run in the mobile industry.

Source: Iliad

Via: Reuters

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